Piramal Enterprises Limited NCD Company Profile:

Piramal Enterprises Limited is the flagship company of the Piramal Group, a huge Indian conglomerate. The Company is a non-deposit-taking, RBI-registered systemically important NBFC that specializes in wholesale and retail lending. Piramal Capital and Housing Finance Company Limited (“PCHFL”), a housing finance company registered with the National Housing Bank (“NHB”), handles the majority of their retail lending activity. The company was founded as ‘Indian Schering Limited’ on April 26, 1947. They started participating in the pharmaceutical market in 1988 by acquiring Nicholas Laboratories India Limited, and have since developed through an organic and inorganic expansion strategy. They have made a number of mergers and acquisitions, joint ventures, strategic alliances, and organic efforts throughout the years, including forays into financial services and healthcare insights and analytics.

Piramal Enterprises Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with a face value of Rs. 1000 each, a Base Issue size of ₹ 200 Crore, and an option to retain oversubscription up to ₹ 800 Crore aggregating up to ₹ 1000 crores, being the Issue size. The issue opens for subscription on Thursday, 19th October 2023, and will close on or before Thursday, 2nd November 2023. The allotment is on a first come first serve basis with the minimum application to be made of 10 NCDs. A minimum of 75% of the Net Proceeds raised through this Issue will be utilized For the purpose of Working Capital and the remaining 25% for general corporate purposes.

Piramal Enterprises Limited NCD Details:

Issue opens: Thursday, 19th October 2023
Issue closes: Thursday, 2nd November 2023
Allotment: First Come First Serve Basis
Face Value: Rs.1,000 per NCD
Issue Price: Rs.1,000 per NCD
Nature of Instrument: Secured Redeemable Non-Convertible Debentures
Minimum Application: 10 NCDs (Rs.10, 000) & in multiple of 1NCD
Listing: BSE & NSE
Credit Rating: [ICRA]AA (Stable) (Double A; Outlook: Stable) by ICRA Limited CARE AA; Stable (Double A; Outlook: Stable) by CARE
Issue Size: Base Issue size of ₹ 200 Crore with an option to retain oversubscription up to ₹ 800 Crore aggregating up to ₹ 1000 crore

Being the Issue size.

Registrar: Link Intime India Pvt Ltd
Category I – Institutional (“QIB”) II – Non-Institutional (“Corporates”) III – High Net worth

Individual (“HNI”)

(Amount aggregating to

above ₹ 10 lakh)

IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh)
Category Allocation of the Overall Issue Size 20% 20% 30% 30%
Bucket Size (₹) assuming Issue size of ₹ 1000 Cr ₹ 200  Cr ₹ 200 Cr ₹ 300 Cr ₹ 300 Cr

Piramal Enterprises Limited NCD

Application form

Piramal Enterprises Limited NCD Specific Terms of the Prospectus:

The terms of the NCDs offered under the Issue are as follows:

Series I II III IV
Frequency of Interest Payment Annual Annual Annual Annual
Tenor 2 Years 3 Years 5 Years 10 Years
Coupon Rate (% p.a.): 9.00% 9.05% 9.20% 9.35%
Effective Yield (% p.a.): 9.00% 9.05% 9.19% 9.34%
Amount (₹ / NCD) on Maturity: ₹ 1,000/- ₹ 1,000/- ₹ 1,000/- ₹ 1,000/-

For any queries related to the NCD, you can consult the team at Elite Wealth. Since Demat is mandatory for investing in this particular NCD, the investor shall open a Demat account with a trusted broker like Elite Wealth.