MUMBAI: Ajay Piramal-controlled Piramal Enterprises Ltd has raised ₹1,500 crore from Standard Chartered Bank through non-convertible debentures (NCD), said two people aware of the development. “The financing from Standard Chartered will go towards meeting near-term needs and has a repayment date in January 2020," he said. These comprised large loans from HDFC Bank and Deutsche Bank, which had subscribed to NCDs worth ₹1,000 crore and ₹590 crore respectively in 2016, the filings showed. An email sent to Piramal Group on 19 June did not elicit any response. “They (Piramal Enterprises) have significantly improved their borrowing mix towards long-term sources of funds.

Source: Mint July 21, 2019 15:33 UTC