Piramal Enterprises : Outcome of committee meeting

20th September, 2022
BSE Limited	National Stock Exchange of India Limited
1st Floor, New Trading Ring,	Exchange Plaza, 5th floor,
Rotunda Building, P.J. Towers,	Plot No. C/1, G-Block,
Dalal Street, Fort,	Bandra-Kurla Complex, Bandra (E),
Mumbai- 400 001	Mumbai - 400 051
BSE scrip code: 500302	NSE symbol: PEL
Dear Sir / Madam,

Sub: Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations')

Outcome of Committee meeting

Issuance of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures up to Rs. 100 crores along with an option to retain oversubscription of up to Rs. 650 crores aggregating up to Rs. 750 crores on private placement basis

Kindly refer to our letter dated 15th September, 2022 on the subject.

Pursuant to Regulations 30 and 51 of the Listing Regulations, we write to inform you that at the Meeting of Administrative Committee ('Committee') of the Board of Directors held today, the Committee approved the issuance of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures ('Debentures') on private placement basis as per the details mentioned in Annexure A.

The meeting commenced at 10.00 a.m. and concluded at 10.30 a.m.

Kindly take the above on record and oblige.

Thanking you,

Yours truly,

For Piramal Enterprises Limited

BIPIN SINGH

Digitally signed by BIPIN SINGH Date: 2022.09.20 10:33:13 +05'30'

Bipin Singh Company Secretary

Encl.: a/a

Annexure A

Details of the Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures

Security Name	Piramal Enterprises Limited September 2022 - Series 1
Size of the issue	Up to Rs. 100 crores along with an option to retain over
	subscription of up to Rs. 650 crores, aggregating up to
	Rs. 750 crores.
Listing	Debentures are proposed to be listed on Debt Segment
	and Capital Market Segment of National Stock
	Exchange ('NSE') and BSE Limited, respectively. NSE
	being the designated Stock Exchange.
Tenure of the instrument	24 months
Interest/Coupon Rate	If IGB 6.54 17/01/2032 Corp price on final observation date
	> = 25% of Digital level, then interest rate will be 8% (XIRR);
	If IGB 6.54 17/01/2032 Corp price on final observation date
	< 25% of Digital level, then interest will not be paid.
Security	Secured through a first ranking pari-passu charge by
	way of hypothecation over the Hypothecated assets
	(excluding Excluded Assets both present and future) of
	the Company.
Special right/ interest/ privileges	N.A.
Delay in payment of interest /	N.A.
principal amount for a period of
more than three months from the
due date or default in payment of
interest / principal
Details of redemption	Redemption at par on 20th September, 2024