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"NEW DELHI: Piramal Capital &amp; Housing Finance (PCHFL), a wholly-owned subsidiary of Piramal Enterprises (PEL), has raised Rs 4,050 crore through issuance of long-term, five-year Non-Convertible Debentures (NCDs) in two tranches.The first tranche of the NCD issue amounting to Rs 2,000 crore opened on March 10, 2021 with a pay-in on March 12, 2021.The second tranche of the remaining Rs 2,050 crore opened on March 18, 2021 with a pay-in on March 19, 2021. Leading rating agency, CARE Ratings has assigned an 'AA' rating for both the issuances.Rajesh Laddha, executive director, Piramal Enterprises said, \"Since the beginning of FY 2020, 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 Apr-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. The five-year NCD issuances of Rs 4,050 crore re-affirm the significant improvement of our liabilities side and strength of our balance sheet.&rdquo;Since Apr-2019, the company has raised over Rs 50,000 crore through several equity ransactions leading to inflows of over Rs 18,000 crore and raising over Rs 32,000 crore of long-term borrowings. It has reduced the Commercial Paper (CP) exposure from Rs 18,017 crore in Sep-2018 to Rs 1,050 crore as of Dec-2020."
<https://realty.economictimes.indiatimes.com/news/allied-industries/piramal-capital-housing-finance-raises-rs-4050-crore-via-issuance-of-ncds/81627105>