Connect with us

News

Piramal Housing Fin raises Rs 4,050 crore via issuance of NCDs

Piramal

Piramal Capital & Housing Finance Limited (PCHFL), a wholly-owned subsidiary of Piramal Enterprises Limited, has raised Rs 4,050 crore through issuance of long-term, five-year non-convertible debentures in two tranches.

According to a press release, the first tranche of the NCD issue amounting to Rs 2,000 crore opened on March 10 with a pay-in on March 12. The second tranche of the remaining Rs 2,050 crore opened on March 18 with a pay-in on March 19. Leading rating agency, CARE Ratings has assigned an ‘AA’ rating for both the issuances, added the release.

Rajesh LaddhaRajesh Laddha, Executive Director, Piramal Enterprises Ltd, said, “Since the beginning of FY2020, we have significantly transformed the liabilities profile towards more stable, long-term sources of funds. The company has raised over Rs 50,000 crore since April 2019 through multiple long-term borrowings and equity transactions, thereby materially strengthening the balance sheet. With net debt-to-equity of less than 1x times, there is adequate growth capital available for both our business for the coming few years.”

Latest News

Events2 days ago

Danube Properties’ Dh525 million Opalz sold out on the first day of launch

October 4, 2022: Danube Properties, the UAE-based affordable housing developer, said, its latest project Opalz, a twin-tower residential project with...

Events2 days ago

Pacific Mall D21’s ‘Dussehra Celebrations’ drops the curtain with high attendance

New Delhi: Pacific Mall D21 organised a two-day Dussehra celebration and Garba Night, attracting massive turnouts. The special arrangement of...

News2 days ago

Tata Value Homes sells over 100 residential units at New Haven, Bahadurgarh at launch

Delhi/Haryana October 4, 2022: With an aim to address the growing demand for quality homes in Haryana – Bahadurgarh, Tata...

New Launches2 days ago

Welspun Corp opens steel plant in Anjar

October 3, 2022, Anjar, Gujarat: Welspun Metallics Limited, a subsidiary of Welspun Corp Limited (WCL), the flagship company of the Welspun...

Events2 days ago

Over 1500 cyclists join Hiranandani Thane Cyclothon 2022 to support ‘Rhyme for Earth’ initiative

October 2, Thane: The Hiranandani Group hosted the first Hiranandani Thane Cyclothon today from its thriving Thane township, Hiranandani Estate. Over...

New Launches2 days ago

Ashiana Housing adds over 900 senior living units with Villas and Apartments with the launch of Ashiana Advik in Bhiwadi

New Delhi, October 3, 2022: New Delhi-based real estate developer Ashiana Housing has announced the launch of Ashiana Advik in Sector 39, Bhiwadi....

Trending