Piramal Finance Approves ₹2000 Cr NCD Issue

Piramal Finance Ltd's Committee of Directors has approved the issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The issue has a base size of ₹500 crore with a green shoe option to retain oversubscription up to ₹1500 crore, aggregating to a total of ₹2000 crore. These NCDs will have a tenure of 3 years and 45 days, with a coupon rate of 8.57% per annum, payable annually and on redemption. The debentures will be secured by a first-ranking pari-passu charge over the company's hypothecated assets and are proposed to be listed on the WDM of BSE and NSE.