India’s Piramal board approves placement of Rs. 5 billion debentures

By Sarah Lizee

Olympia, Wash., Nov. 16 – Piramal Enterprises Ltd.’s administrative committee of its board of directors approved a private placement of Rs. 5 billion of secured redeemable nonconvertible debentures, according to a notice filed with the Bombay Stock Exchange.

The committee approved the allotment of 5,000 debentures having a face value of Rs. 1 million each.

The debentures will be listed on the wholesale debt market segment of National Stock Exchange of India Ltd.

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

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