Piramal Enterprises to issue INR 300 crore debentures

Piramal Enterprises Limited (BSE:PEL) announced the issuance of secured, rated, listed, and redeemable non-convertible debentures (NCDs) through a private placement. The issuance will be structured into two series, each with a base issue size of INR 50 Crore. Additionally, there's a green shoe option to retain oversubscription of up to INR 250 Crore. The total issue size aggregates to INR 300 Crore. The debentures will be listed on the Wholesale Debt Market (WDM) segment of BSE/NSE. Series 1 will have a tenure of 820 days with an interest rate of 9.12% p.a., while Series 2 will have a tenure of 1188 days and an interest rate of 9.19% p.a., both paid annually. The debentures will be secured through a first-ranking pari-passu charge on the company's assets, ensuring a minimum security cover ratio of 1 time.