New Delhi, Nov 28 (PTI) Piramal Enterprises Wednesday said it plans to raise up to Rs 500 crore through issue of secured non-convertible debentures (NCDs) on private placement basis. Also Read - Piramal Enterprises to raise Rs 2,500 cr via NCDs

The administrative committee of the board approved the issue of secured NCDs on private placement basis up to Rs 400 crore with an option to retain over-subscription of up to Rs 100 crore, aggregating the total issue size to Rs 500 crore, Piramal Enterprises said in a filing to BSE. Also Read - Piramal Enterprises plans to raise up to Rs 2,650 cr via NCDs

“These NCDs are proposed to be listed on the wholesale debt market segment of NSE,” it added. Also Read - Piramal board to meet this week to consider fund raising

The company, however, did not specify what it wants to do with the funds to be raised.

Shares of Piramal Enterprises were trading at Rs 2,094.45 per scrip on BSE, up 2.13 per cent from their previous close.

This is published unedited from the PTI feed.