Piramal Enterprises is planning to raise up to Rs 1,000 crore through issuing non-convertible debentures (NCDs) on private placement basis.

“A meeting of the administrative committee of the Board of Directors of the company will be held on July 21, 2016 to consider and approve the issue of secured non-convertible debentures amounting up to Rs 1,000 crore on private placement basis.”

However, the company did not specify on what it intends to do with the money.

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