NCD out in the market, after IIFL now NCD of PIRAMAL CAPITAL is also open, know what is special

These days NCDs have come out in the market. After IIFL, now the NCD of Piramal Ent’s subsidiary PIRAMAL CAPITAL is going to open in the market on 12th July. This NCD is Secured NCD and the face value of this NCD is Rs 1,000. In this NCD, you will get interest between 8.10 percent to 9 percent.

Speaking on this, Jairam Sridharan, Chief Executive Officer, Piramal Retail Finance, told CNBC Awaaz that this Rs 200 crore NCD has an option of oversubscription of Rs 800 crore. 75% of the amount received from this NCD C will be used for lending, financing. The remaining 25 per cent will be used to meet the corporate needs of the company. This NCD has got AA rating from CARE. At the same time, ICRA has rated this NCD as AA with negative outlook.

Let us inform that Piramal Capital is a subsidiary of Piramal Enterprises which is registered under NHB. The company gives loans to real estate developers, corporates, SMEs.

This NCD has 4 categories including Institutional HNI and Retail. The company has been in the finance business for nearly 13 years. So far, most of its focus has been on the real estate business. Now the company is increasing its focus on the retail segment.

The company also plans to provide loans for housing finance, SMEs, used vehicles. He further said that we also give loans to those customers who do not get loan from the bank. Our focus has shifted to housing, used vehicle and personal loans. He also said that the demand in the retail loan segment has become much better.

Before March, the demand for houses reached close to the pre-Covid level, but the second wave of corona in April-May has affected the demand but since June there has been a considerable recovery in demand.

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