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India's Piramal Enterprises plans to raise 3.75 bln rupees via CPs
August 5, 2013 / 10:14 AM / in 4 years

India's Piramal Enterprises plans to raise 3.75 bln rupees via CPs

MUMBAI, Aug 5 (Reuters) - India’s Piramal Enterprises is planning to raise 3.75 billion rupees ($61.57 million) through commercial papers (CP) at 11.75 percent, two sources with knowledge of the deal said.

The firm, which makes drugs and offers contract drug research and manufacturing services, will issue October maturity CPs for 500 million rupees, early November papers for 2.25 billion rupees and December maturity papers for 1 billion rupees, the sources said.

Mutual funds are investors in the papers, the sources said. ($1 = 60.9100 Indian rupees) (Reporting by Archana Narayanan; Editing by Anupama Dwivedi)

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