Piramal Enterprises Ltd. announced on Monday that its board will meet on Feb. 13 to consider a proposal to raise up to Rs 450 crore by public issuance of non-convertible.
The company's board of directors to consider and approve the issuance of non-convertible debentures up to Rs 75 crore along with the green shoe option to retain oversubscription up to Rs 375 crore, according to an exchange filing.
The total issue size aggregating up to Rs 450 crore will have a face value of Rs 1 lakh each on a private placement basis under general information document, as per filing.
The non-banking financial company reported profit in the third quarter of financial year 2025. It also reported higher volume during the quarter ended Dec. 31, 2024.
The company's net profit stood at Rs 38.6 crore for the quarter ended December, as compared to a loss of Rs 2,378 crore for the same period last year. The revenue fell by 1.1% to Rs 2,449 crore for the third quarter, as against Rs 2,476 crore for the year-ago period.
Shares of Piramal Enterprises closed 2.43% lower at Rs 1,009.80 apiece, compared to a 0.76% decline at the NSE Nifty 50. The stock has risen 13.27% in the last 12 months.
Out of seven analysts tracking the company, one maintains a 'buy' rating, two recommend a 'hold,' and four suggest 'sell,' according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 8%.
RECOMMENDED FOR YOU
IRB Infrastructure Q1 Results: Net Profit Rises 45% To Rs 202 Crore
Aug 14, 2025
Inox Wind Q1 Results: Profit More Than Doubles To Rs 97.34 Crore
Aug 14, 2025
.png?rect=0%2C0%2C3500%2C1969&w=75)
Max Healthcare Q1 Results: Profit Rises 17% To Rs 345 Crore
Aug 13, 2025
United Spirits Q1 Results: Profit Declines Even As Revenue Sees Uptick
Aug 13, 2025
POPULAR