Piramal Enterprises NCD Established in April 1947, Piramal Group is a diversified business corporation that consists of multiple smaller subsidiaries. These subsidiaries operate across various industries, including pharmaceuticals, financial services, and real estate. Piramal Group has a global presence, with offices in over 30 countries and operations spanning across 100+ countries. With a workforce comprising more than 10,000 employees from diverse nationalities, it is a truly international organization.
One of its key subsidiaries, Piramal Enterprise Limited, is a non-banking financial company (NBFC) with a vast network of over 400 branches throughout India. This company specializes in providing financial solutions for both retail and wholesale lending.
Piramal Enterprise Limited offers a wide range of financial products, catering to the needs of individuals and micro, small, and medium-sized enterprises (MSMEs). These offerings include housing finance, loans against property, secured MSME loans, and unsecured loans like microfinance loans.
As of June 30, 2023, Piramal Enterprise Limited boasts a total of 424 traditional branches, encompassing 136 microfinance branches that are spread across 25 states and union territories within India.
Piramal Enterprises NCD IPO Tranche I October 2023 Detail
| Issue Open | October 19, 2023 – November 2, 2023 |
| Security Name | Piramal Enterprises Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 1,000.00 Crores |
| Issue Size (Shelf) | Rs 3,000.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | [ICRA]AA (Stable) by ICRA Limited and CARE AA (Stable) by CARE Ratings Limited |
| Tenor | 2 , 3, 5 and 10 years |
| Series | Series I to IV |
| Payment Frequency | Anually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
NCD Allocation Ratio
Piramal Enterprises NCD IPO Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 |
|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Annual | Annual | Annual |
| Nature | Secured | Secured | Secured | Secured |
| Tenor | 2 Years | 3 Years | 5 Years | 10 Years |
| Coupon (% per Annum) | 9.00% | 9.05% | 9.20% | 9.35% |
| Effective Yield (% per Annum) | 9.00% | 9.05% | 9.19% | 9.34% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
NCD Rating
The company has received a rating of [ICRA]AA (Stable) by ICRA Limited and CARE AA (Stable) by CARE Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Promoters
The company Promoter is Ajay G. Piramal.
Company Financials
Piramal Enterprises NCD IPO Information (Restated Consolidated)
| Period Ended | 30 Mar 2023 | 31 Mar 2022 |
| Assets | 74,436.54 | 84,300.28 |
| Revenue | 9,086.74 | 7,910.89 |
| Profit After Tax | 9,968.58 | 1,998.77 |
| Net Worth | 31,059.00 | 30,120.00 |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For the purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company – 75% of the amount raised and allotted in this Tranche I Issue.
- For General Corporate Purposes – 25% of the amount raised and allotted in this Tranche I Issue.
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