NEW DELHI : Piramal Enterprises Ltd has raised ₹2,590 crore by issuing debt securities to San Francisco-based investment firm Farallon Capital, said a person aware of the development.“The money was raised through three-year NCDs (non-convertible debentures) at a rate of 9%," the person cited above said, requesting anonymity.
The funds will be used to repay existing loans of the group, as well as for other purposes, he added.The fundraise was approved by the board of Piramal Enterprises on Thursday evening, as per a regulatory filing.Piramal Enterprises did not respond to emailed queries on details of the deal.