Piramal Enterprise To Raise Fund Through CP
Piramal Enterprise is planning to issue commercial papers to raise R375 Cr, ET stated. The paper would carry an interest of 11.75%.
The issue would be categorized into 3 maturities - October maturity CPs for R50 Cr, early November papers for R225 Cr and December maturity papers for R100 Cr.
Over the years the company has diversified across multiple verticals within healthcare, life sciences and financial services. It also carries on research and drug discovery with more than 400 scientists in its team and over 170 issued patents plus 370 pending patent.
Last year, Decision Resources Group, the American subsidiary of Piramal Enterprises, had acquired British firm Abacus International and was planning to acquire Ind-Swift Laboratories’ contract research and manufacturing business.
The pharma company had shown diversified interest through its investment of R500 Cr in Green Infra Limited and acquisiton of 10% equity stake in Shriram Transpor, earlier this year.
Recently Third Avenue acquired around 1.26% stake through block deal of R117 Cr in Piramal.
Piramal Enterprise on BSE
- Ahmedabad-based Roselabs Limited was in talks with some financial institutional players to raise R100 Cr for expanding its operations
- Star Dental was planning to raise funds from individual and institutional investors to fund its expansion plans in India
- The Board of Venus Remedies had approved raising of funds by way of equity/convertible instruments upto $30 Mn, on a preferential basis
- Jubilant Life Sciences was planning to raise debt up to $250 Mn,
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