Piramal Finance approves ₹2,000 crore secured NCDs at 8.57% coupon
- Piramal Finance committee approved issuance of up to ₹2,000 crore in secured NCDs
- Instruments carry an 8.57% coupon rate with a tenure of 3 years and 45 days
- Base issue size is ₹500 crore with an oversubscription option of ₹1,500 crore
- Debentures are secured by first ranking pari-passu charge over hypothecated assets
*this image is generated using AI for illustrative purposes only.
Piramal Finance has received committee approval for the issuance of non-convertible debentures (NCDs) worth up to ₹2,000 crore. The instruments will carry a coupon rate of 8.57% per annum and have a tenure of 3 years and 45 days.
NCD issuance details
The approval was granted by the Committee of Directors (Administration, Authorisation & Finance) during its meeting held on September 8, 2026. The company is authorised to raise funds through secured, rated, listed, and redeemable NCDs on a private placement basis via an Electronic Book Building (EBP) process.
The issue comprises a base size of ₹500 crore along with an oversubscription option (green shoe) of up to ₹1,500 crore, aggregating to the total approved amount of ₹2,000 crore. Each debenture has a face value of ₹1,00,000.
| Parameter | Details |
|---|---|
| Instrument | Secured, Rated, Listed, Redeemable NCDs |
| Amount approved | Up to ₹2,000 crore (Base ₹500 crore + Oversubscription ₹1,500 crore) |
| Coupon rate | 8.57% p.a. |
| Tenure | 3 years and 45 days |
| Allotment date | September 21, 2026 |
| Maturity date | November 5, 2029 |
| Security | First ranking pari-passu charge over hypothecated assets |
| Approving authority | Committee of Piramal Finance |
The debentures are proposed to be listed on the Wholesale Debt Market (WDM) of the BSE and NSE within three working days from the closing of the issue, with NSE designated as the primary stock exchange. Interest payments are payable annually and on the redemption date.
In the event of default in payment of interest or principal for more than three months, the company will be liable to pay additional interest at 2% per annum over the applicable coupon rate until the default is cured.
Historical Stock Returns for Piramal Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.66% | -0.08% | +8.95% | +29.58% | 0.0% | 0.0% |
How will the ₹2,000 crore NCD issuance impact Piramal Finance's debt-to-equity ratio and overall leverage metrics?
What specific strategic initiatives or asset acquisitions is Piramal Finance planning to fund with these proceeds?
How does the 8.57% coupon rate compare to current market benchmarks for similar-rated financial instruments in India?
15
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
