Piramal nets bumper demand for rare Indian CB
Piramal Enterprises has closed what bankers are touting as the first offering of mandatory convertible bonds in India through a qualified institutional placement, with the deal bagging close to $1bn in investor orders.
The Indian conglomerate launched the fundraising at a base size of $500m last Thursday but it is poised to be upsized to well over $700m to cater to excess demand, said a banker. The issuer is expected to approve the final size by Tuesday.
The placement of
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