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Piramal Capital to raise Rs 1,000 crore via NCDs
Piramal Capital and Housing Finance Ltd (PCHFL)
Piramal Capital and Housing Finance Ltd (PCHFL) Wednesday said it is looking to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs) of various tenors
Mumbai: Piramal Capital and Housing Finance Ltd (PCHFL) Wednesday said it is looking to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs) of various tenors.
The tranche-I issue has a base issue size of Rs200 crore with an option to retain oversubscription up to Rs800 crore.
The tenors of NCDs are 26 months, 36 months, 60 months and 120 months, with coupons in the range of 8.1 per cent to 9 per cent on an annualised basis. In the 26 months-NCD, there are two interest payment options- annual and cumulative.
Jairam Sridharan, CEO, Piramal Retail Finance, said: "The funds will be utilised for growing the retail business.
Over the last year, we have launched a lot of new businesses in retail, including affordable housing, digital lending and used car financing. "
