India’s Piramal to issue Rs. 1 billion unsecured redeemable debentures

By Susanna Moon

Chicago, March 22 – Piramal Enterprises Ltd. notified the Bombay Stock Exchange that it plans to issue Rs. 1 billion of unsecured redeemable debentures.

The company will issue 1,000 debentures at par, and the notes will be listed on the National Stock Exchange of India Ltd., according to the notice.

The company said on March 1 that its board of directors had approved the issue of Rs. 1 billion of secured redeemable nonconvertible debentures.

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

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