In a regulatory filing, the NBFC said that its Administrative Committee of the board of directors will consider and approve the issue of secured, rated, listed, redeemable, non-convertible debentures up to Rs 100 crore along with the green shoe option to retain oversubscription up to Rs 500 crore, the total size aggregating up to Rs 600 crore, on a private placement basis.

Piramal Enterprises (PEL) is a leading diversified NBFC in India with a presence across retail lending, wholesale lending, and fund-based platforms. The company has investments and assets worth around $10 billion, with a network of branches across 25 states/UTs.

The NBFC reported a consolidated net loss of Rs 2,377.59 in Q3 FY24 as against a net profit of Rs 3,545.37 crore recorded in Q3 FY23. Total income declined 11.18% year on year to Rs 2,546.20 crore in the quarter ended 31 December 2023.

Shares of Piramal Enterprises declined 0.56% to settle at Rs 889.15 on the BSE.