India’s Piramal board OKs Rs. 1 billion nonconvertible debenture issue

By Tali Rackner

Norfolk, Va., March 1 – Piramal Enterprises Ltd. informed the Bombay Stock Exchange that its board of directors approved the allotment of Rs. 1 billion of secured redeemable nonconvertible debentures.

The 1,000 debentures will be issued at a face value of Rs. 1 million each and will be listed on the National Stock Exchange of India Ltd. - Wholesale Debt Segment.

Piramal Enterprises, formerly Piramal Healthcare Ltd., is a Mumbai-based subsidiary of the Piramal Group.

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