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“…we write to inform you that at the meeting of Administrative Committee (‘Committee’) of the Board of Directors held today, the Committee approved the issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures, on private placement basis…,” according to a stock exchange filing.
The issuance includes a base issue size of ₹75 crore, with a green shoe option to retain oversubscription of up to ₹375 crore, aggregating to ₹450 crore. The NCDs will carry an annual coupon rate of 9.10%, with interest paid annually and on the redemption date.
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The debentures will have a tenure of 3,651 days (approximately 10 years) and will be listed on the Wholesale Debt Market (WDM) segment of the NSE, which is the designated stock exchange. The redemption amount, including the principal and accrued interest, will be paid on February 23, 2035.Piramal Enterprises returned to profitability in the third quarter ended December 31, 2024, with a net profit of ₹38.6 crore. This is against a net loss of ₹2,377.6 crore in the year-ago period. The company’s revenue from operations dipped 1.1% to ₹2,448.6 crore against ₹2,475.6 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA declined 10.8% to ₹1,074.7 crore in the third quarter of this fiscal over ₹1,205.4 crore in Q3 FY24. The EBITDA margin fell to 43.9% in the reporting quarter versus 48.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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Shares of Piramal Enterprises Ltd ended at ₹964.80, down by ₹13.50, or 1.38% on the BSE.
