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Piramal Enterprises is planning to raise of up to ₹5,000 crore through various modes such as issuance of equity shares, Global Depository Receipts, American Depository Receipts and bonds.
The company is planning to raise the funds through one or more tranches, it said in a statement, adding the company got shareholders’ approval for the same.
It also posted a 61 per cent rise in consolidated net profit at ₹311 crore for the fourth quarter ended March 31, compared with ₹193 crore recorded during the same period a year ago.
The company’s revenues rose 46 per cent to ₹2,463 crore during the quarter under reporting, compared with ₹1,691 crore during the year-ago period, it said in a statement.
Net profit for the full year ended March 31, rose 38 per cent to ₹1,252 crore (₹905 crore in FY2016), on revenues that rose 34 per cent to ₹8,547 crore (₹6,381 crore). The company’s board recommended a final dividend of ₹21 per share.
“Strong growth across all businesses during the quarter enabled us to deliver the best quarterly performance over the last few years. We remain steadfast in our commitment to generate year-on-year improved performance and to drive innovative strategic business initiatives that bolster growth, strengthen our market leadership and consistently create long-term value for our shareholders," said Ajay Piramal, Chairman.
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