The board of Piramal Enterprises has approved the proposal to raise Rs 560 crore through issue of non-convertible debentures (NCDs).

Piramal Enterprises has said in a regulatory filing that “At the meeting of administrative committee of board of directors of the company held, the committee approved the allotment of 5,600 secured non-convertible debentures (NCDs) having face value of Rs 10 lakh each aggregating to Rs 560 crore on a private placement basis.”

It added that the NCDs are proposed to be listed on the wholesale debt market segment of NSE.

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