India New Issue-Piramal Enterprises to raise funds via public issue

Piramal Enterprises

17/10/2023 05:45

MUMBAI, Oct 17 (Reuters) - India's Piramal Enterprises
 PIRA.NS  plans to raise at least 2 billion rupees ($24.03
million) through a public issue of bonds, which will open for
subscription on Thursday, three merchant bankers said on
Tuesday.
    The company will issue bonds maturing in two years, three
years, five years and 10 years, they added. 
    It will pay an annual coupon of 9.00% and 9.05% on the
two-year and three-year papers, and offer a coupon of 9.20% and
9.35% for the five-year and 10-year notes, respectively. 
    AK Capital Services, JM Financial, Nuvama Wealth Management
and Trust Investment Advisors are acting as lead managers for
the issuance, which will close for subscription on Nov. 2. 
    The bonds are rated AA by Care Ratings and ICRA, and the
issuance has a greenshoe option to retain an additional 8
billion rupees. 
 

($1 = 83.2300 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))