Piramal Finance Approves Issuance of ₹675 Crore Secured NCDs on Private Placement at 9.30% p.a.
Piramal Finance's Committee approved issuing ₹675 crore secured, rated NCDs via private placement at 9.30% interest. Allotment is on December 2, 2025, maturing May 7, 2027, with listing on BSE and NSE.
The issuance of ₹675 crore NCDs significantly impacts the company's capital structure by increasing its debt, providing funds for business operations and potentially growth. It also commits the company to future interest and principal payments.
The successful approval of a significant debt fundraising through NCDs at a specified interest rate indicates the company's ability to secure financing for its operations and growth, which is generally positive for its financial stability.
* Piramal Finance Limited's Committee of Directors (Administration, Authorisation & Finance) approved the issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) on a Private Placement basis. * The issue size includes a base of ₹175 crore, with a green shoe option to retain oversubscription of up to ₹500 crore, aggregating to a total of ₹675 crore. * Each NCD has a face value of ₹1 lakh. * The debentures are proposed to be listed on the Wholesale Debt Market (WDM) segments of BSE and NSE. * The original tenure of the instrument is 729 days, with a residual tenure of 521 days. * The coupon/interest offered is 9.30% per annum. * Key dates are: * Date of allotment: 02nd December 2025 * First interest payment: 8th May 2026 * Date of maturity and second interest & principal payment: 07th May 2027 * The NCDs will be secured by a first-ranking pari-passu charge by way of hypothecation over the company's Hypothecated Assets, maintaining a minimum security cover of 1 time. * In case of default in payment of interest and/or principal, an additional interest of 2% per annum over the applicable coupon rate will be payable.
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Piramal Finance Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Piramal Finance Limited. Read the original for the full detail.