The Hindu Business Line : Piramal Health to raise Rs 1,000 cr

The board of Piramal Healthcare Ltd has approved a proposal to raise up to Rs 1,000 crore through an issue of equity or equity linked securities. The funds would go towards repaying debt of an estimated Rs 1,400 crore, a source familiar with the development said. While the pricing and manner in which the funds would be raised is yet to be decided, the source indicated that it could result in the overall dilution of equity by about 10-12 per cent. Piramal Healthcare shares were down over three per cent at Rs 400 on the BSE. — Our Bureau

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