In this article, we will talk about the Piramal Enterprises. Piramal Enterprises is one of the best Financial services companies. Piramal Enterprises Limited (PEL) India’s leading diversified non-banking financial company (NBFC) has been selected to increase 1,000 crore from the issuance of Non -Convertible Debentures (NCDs). Since the news has come on the internet it has gone viral on the social media platforms. Now many people have been super curious to know about the whole information about the news. We have more information about it and will share it with you in this article, so let’s continue the article.
The base issue size is 200 crores with a green shoe option of up to 800 crores, aggregating up to 1,000 crores (“Tranche I Issue”). The Tranche I Issue is designed to open On Thursday, 19 October 2023, and close on Thursday, 2 November 2023 with the option of early closure or extension in keeping with the Listing of Non-Convertible Securities Regulations 2021 and the Securities and Exchange Board of India Issue. Currently, this news has been gaining huge attention from the people. Scroll down to the next page for more information about the news.
As per the report, the NCDs have been proposed to be recorded on NSE and BSE with BSE being the selected stock exchange for the issue. The NCDs have got (ICRA) AA (Stable) ratings from ICRA Limited and CARE AA (Stable) ratings from CARE Ratings Limited. The lowest application size is 10,000 (i.e., 10 NCDs) and may be applied for in multiples of 1,000 (i.e., 10 NCDs). The NCDs come with maturity/ tenure chances of 2 years, 3 years, 5 years, and 10 years, and they present annual coupon payments series I, II, III, and IV, respectively. You are on the right page for more information about the news, so read the complete article till the end.
As far as we know, the influential yield for NCD holders in different types ranges from 9.00% to 9.34% per annum. Out of the net profit from the Tranche I Issue, a minimum of 75% will be used for the goal of onward lending, financing, and refunds/prepayment of interest and principal of living borrowings of the firm, and a max of up to 25% will be used for public corporate purposes, the company said. Here we have shared all the information that we had if we get any information then we will update you soon. Stay tuned to us for more updates.