Piramal Enterprises Limited, a leading diversified conglomerate in India, has officially informed the stock exchanges that its Administrative Committee of the Board of Directors will meet on Tuesday, 27th May 2025 to consider the issuance of Non-Convertible Debentures (NCDs) aggregating up to Rs 600 crore. These NCDs will be issued on a private placement basis, in accordance with Regulations 29 and 50 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The proposed NCD issue will be structured into two distinct series under a General Information Document, as outlined below:

Series 1 – Up to Rs 450 crore

The company plans to issue Secured, Rated, Listed, Redeemable NCDs worth up to Rs 75 crore. Additionally, a green shoe option will allow retention of oversubscription up to Rs 375 crore, making the total size up to Rs 450 crore.

• Face value: Rs 1,00,000 per NCD

• Purpose: Likely to raise long-term capital from institutional investors through private channels

Series 2 – Up to Rs 150 crore

In a second tranche, NCDs up to Rs 50 crore will be offered, along with a green shoe option for an additional Rs 100 crore, aggregating up to Rs 150 crore.

• Face value: Rs 1,00,000 per NCD

• Structure: Secured and redeemable instruments, in line with SEBI norms

These proposed issuances reflect Piramal Enterprises’ continuing efforts to optimise capital structure, enhance liquidity, and support long-term growth initiatives. The funds raised are expected to be used for corporate purposes, refinancing of existing debt, or funding operational and strategic requirements.

Regulatory Compliance

The intimation is made in full compliance with the provisions of SEBI Listing Regulations, specifically

• Regulation 29 – pertaining to advance notice of board meetings

• Regulation 50 – relating to debt securities and listing requirements

The company has maintained complete transparency in its disclosures and remains committed to following all applicable regulatory frameworks.

About Piramal Enterprises Limited

Piramal Enterprises Limited (PEL) is one of India's large diversified companies with a presence in financial services and pharmaceuticals. The company has a long-standing reputation for its prudent risk management, corporate governance standards, and ethical business practices.

Through its subsidiaries, Piramal is active in lending to real estate and non-real estate sectors, asset management, and life sciences. It has been a proactive player in the Indian capital markets with consistent engagement with private placements, debt instruments, and structured financial solutions.

The company continues to look for strategic avenues of capital raising to align with its business growth and expansion roadmap.

Key Financial Strategy

By issuing Non-Convertible Debentures, PEL aims to

• Diversify its sources of funding

• Access capital at competitive rates

• Strengthen its balance sheet

• Enhance stakeholder confidence

NCDs offer an attractive route for institutional investors seeking stable returns, and for issuers like Piramal, they provide flexibility without equity dilution.

Conclusion

The upcoming Board Committee meeting on 27th May 2025 is a significant event for investors and analysts tracking the company’s capital structure and funding plans. The proposed NCD issuance is expected to further reinforce Piramal’s robust financial position while supporting its operational and strategic initiatives.

Investors, rating agencies, and market participants will be closely watching the outcome of the meeting, given the size and structure of the proposed debentures.

For further information
Piramal Enterprises Limited
Bipin Singh – Company Secretary
Mumbai
Date: 22nd May 2025

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