By Wendy Van Sickle
Columbus, Ohio, July 21 – Piramal Enterprises Ltd. informed the Bombay Stock Exchange that its board of directors approved the allotment of up to Rs. 10 billion of secured redeemable nonconvertible debentures.
The 10,000 debentures will be issued at a face value of Rs. 1 million each.
They will mature on July 19, 2019, and investors will have a put option on Feb. 21, 2018.
The notes will be listed on the wholesale debt segment of the National Stock Exchange of India Ltd.
Piramal Enterprises, formerly Piramal Healthcare Ltd., is a Mumbai-based subsidiary of the Piramal Group.
| Issuer: | Piramal Enterprises Ltd.
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| Amount: | Rs. 10 billion
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| Issue: | Secured redeemable nonconvertible debentures
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| Maturity: | July 19, 2019
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| Put option: | Feb. 1, 2018
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| Coupon: | 0%
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| Pricing date: | July 21
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