{"id":112171,"date":"2023-10-18T16:10:30","date_gmt":"2023-10-18T10:40:30","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=112171"},"modified":"2023-10-18T16:10:36","modified_gmt":"2023-10-18T10:40:36","slug":"piramal-enterprises-maiden-ncd-offering-begins-on-thursday-to-raise-up-to-rs-1000-crore","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/piramal-enterprises-maiden-ncd-offering-begins-on-thursday-to-raise-up-to-rs-1000-crore\/","title":{"rendered":"Piramal Enterprises&#8217; maiden NCD offering begins on Thursday; to raise up to Rs 1,000 crore"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4032302764\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>On Wednesday Piramal Enterprises Limited said it plans to raise Rs 1,000 crore from the maiden issuance of Non-Convertible Debentures (NCDs) to fund business growth.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2697103241\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The tranche I consists of a Rs 200 crore base issue and a green-shoe option of up to Rs 800 crore, for a total of Rs 1,000 crore, which is within the shelf limit of Rs 3,000 crore.<\/p><p>The issue opens for subscription on October 19 and closes on November 2, 2023, with an option of early closure as per the Securities and Exchange Board of India norms.<\/p><p>According to Jairam Sridharan, MD, Piramal Capital &amp; Housing Finance Ltd, 60 per cent of the issue is reserved for high net-worth individuals and retail investors.<\/p><div class=\"trade-content_5\" id=\"trade-2776905930\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The secured, rated, listed, redeemable, non-convertible debentures with a face value of Rs 1,000 each are proposed to be listed on the BSE and NSE, with BSE being the designated stock exchange for the issue.<\/p><p>The issue has maturity\/tenure options of 2 years, 3 years, 5 years and 10 years with annual coupon payment being offered across series I, II, III, and IV respectively.<\/p><p>The effective return for NCD holders in various categories ranges from 9 per cent to 9.34 per cent per annum.<\/p><p>At least 75 per cent of the net proceeds of the tranche I issue will be used for onward lending, financing, and repayment of interest and principal on the company&#8217;s existing borrowings, with the remaining 25 per cent used for general corporate purposes including branch expansion.<\/p><p>Piramal Enterprises Ltd is a non-deposit taking NBFC engaged in providing wholesale and retail lending primarily through standalone operations and its wholly-owned subsidiary Piramal Capital &amp; Housing Finance Ltd (PCHFL).<\/p><p>The company&#8217;s consolidated operations are backed by a network of about 424 conventional branches, including 136 microfinance branches across 25 states and Union Territories.<\/p><div class=\"trade-content-10\" id=\"trade-133093686\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-3277601115\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Wednesday Piramal Enterprises Limited said it plans to raise Rs 1,000 crore from the maiden issuance of Non-Convertible Debentures (NCDs) to fund business growth. The tranche I consists of a Rs 200 crore base issue and a green-shoe option of up to Rs 800 crore, for a total of Rs 1,000 crore, which is [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":45369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-112171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Piramal Enterprises&#039; maiden NCD offering begins on Thursday; to raise up to Rs 1,000 crore - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"On Wednesday Piramal Enterprises Limited said it plans to raise Rs 1,000 crore from the maiden issuance of Non-Convertible Debentures (NCDs) to fund business growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/piramal-enterprises-maiden-ncd-offering-begins-on-thursday-to-raise-up-to-rs-1000-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Piramal Enterprises&#039; 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