Piramal Finance to Issue ₹2,000 Crore NCDs with 8.62% Coupon
Piramal Finance approved issuing ₹2,000 crore worth of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures. The NCDs carry an 8.62% annual coupon and will mature on November 22, 2029. Allotment is scheduled for October 8, 2026.
The issuance of ₹2,000 crore in NCDs represents a significant fundraising activity for Piramal Finance, impacting its capital structure and debt levels.
The announcement is a routine debt fundraising activity for the company and does not contain any specific positive or negative triggers.
Piramal Finance Limited has announced the approval for the issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis. The decision was made during a meeting of the Committee of Directors (Administration, Authorisation & Finance) held on September 28, 2026.
The total issue size comprises a base issue size of ₹500 crore with a green shoe option to retain oversubscription up to ₹1,500 crore, aggregating to ₹2,000 crore. Each NCD will have a face value of ₹1,00,000.
The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) of BSE and NSE within three working days from the closing of the issue. The tenure of the instrument is 3 years and 45 days, with an allotment date of October 8, 2026, and a maturity date of November 22, 2029. The coupon/interest offered is 8.62% per annum, payable annually and on the redemption date.
The NCDs will be secured through a first-ranking pari-passu charge by way of hypothecation over the company's assets. In case of default in payment of interest or principal, additional interest at 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.