By Sarah Lizee
Olympia, Wash., Feb. 12 – Piramal Enterprises Ltd. informed the Bombay Stock Exchange that the administrative committee of its board of directors approved an issue of up to Rs. 300 million of secured redeemable non-convertible market-linked debentures on a private placement basis.
The issue will carry a Rs. 1 billion greenshoe and a tenor of 391 days, according to the notice.
The coupon will be linked to the Nifty 50 index.
The debentures will be listed on the wholesale debt market segment of the National Stock Exchange of India.
The issue was approved at a meeting held Tuesday.
Piramal Enterprises is a Mumbai-based subsidiary of the Piramal Group.
| Issuer: | Piramal Enterprises Ltd.
|
| Issue: | Secured redeemable non-convertible market-linked debentures
|
| Amount: | Up to Rs. 300 million
|
| Greenshoe: | Rs. 1 billion
|
| Tenor: | 391 days
|
| Coupon: | Linked to Nifty 50 index
|
| Announcement date: | Feb. 12
|
| Distribution: | Private placement
|
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