Piramal Capital & Housing Finance Sells Mumbai Property for Rs 187 Crore
Piramal Capital & Housing Finance sells its immovable property in Mumbai for Rs 187 crore to Shoquba Realty, and raises $150 million through a global bond sale.
Piramal Capital Housing FinanceShoquba RealtyMumbai PropertyGlobal Bond SaleSustainability Bond IssuanceReal EstateOct 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 per cent 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 Capital & Housing Finance has been actively raising funds through various means, including bond issuances. In July 2024, it had raised USD 300 million from a sustainability bond issuance and achieved a 0.87 per cent improvement in pricing as against the 7.950 for the bonds issued in July 2024.
About Piramal Enterprises
Piramal Enterprises is a diversified conglomerate with interests in pharmaceuticals, financial services, and real estate. The company has a strong presence in India and is listed on the Bombay Stock Exchange and the National Stock Exchange.
About Piramal Capital & Housing Finance
Piramal Capital & Housing Finance is a wholly-owned subsidiary of Piramal Enterprises, providing financial services and housing finance solutions to individuals and businesses.
About Shoquba Realty
Shoquba Realty is a real estate development company that focuses on creating high-quality residential and commercial properties in India.
Frequently Asked Questions
What is the total consideration for the sale of Piramal Capital & Housing Finance's Mumbai property?
Rs 187 crore
Who is the buyer of Piramal Capital & Housing Finance's Mumbai property?
Shoquba Realty
How much did Piramal Capital & Housing Finance raise through its global bond sale?
$150 million
What is the yield on the bonds issued by Piramal Capital & Housing Finance?
7.80 per cent
When did Piramal Capital & Housing Finance raise USD 300 million from a sustainability bond issuance?
July 2024
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