Piramal Capital & Housing Finance Sells Mumbai Property for ₹187 Crore to Shoquba Realty
Piramal Capital & Housing Finance has sold its immovable property in Santacruz East, Mumbai, to Shoquba Realty for ₹187 crore. The company also raised $150 million through a global bond sale.
Piramal Capital Housing FinanceShoquba RealtyMumbai PropertyGlobal Bond SaleSustainability Bond IssuanceReal Estate MumbaiOct 05, 2024
In a separate regulatory filing, the company also announced that it has raised $150 million through a global bond sale. The bonds will be issued at a yield of 7.80% and will have to be repaid in 3.32 years. This fundraising effort is a testament to the company's ability to access global capital markets and raise funds at competitive rates.
Piramal Enterprises is a leading business conglomerate with a diverse range of businesses across pharmaceuticals, financial services, and real estate. The company has a strong track record of creating value for its stakeholders, and this sale and fundraising effort are consistent with its strategic objectives. In July 2024, PCHFL had raised USD 300 million from a sustainability bond issuance and achieved a 0.87% improvement in pricing as against the 7.950% for the bonds issued in July 2024. This demonstrates the company's commitment to sustainable financing and its ability to access capital at competitive rates.
Frequently Asked Questions
Who is Piramal Capital & Housing Finance?
Piramal Capital & Housing Finance is a wholly-owned subsidiary of Piramal Enterprises, a leading business conglomerate with a diverse range of businesses across pharmaceuticals, financial services, and real estate.
What is the value of the property sold by Piramal Capital & Housing Finance?
The property was sold for a total consideration of ₹187 crore.
Who is the buyer of the property?
The buyer of the property is Shoquba Realty.
What is the yield on the bonds issued by Piramal Capital & Housing Finance?
The bonds will be issued at a yield of 7.80%.
What is the repayment period for the bonds?
The bonds will have to be repaid in 3.32 years.
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