BENGALURU (Reuters) - Indian conglomerate Piramal Enterprises Ltd (NS:PIRA) said on Thursday it raised 17.50 billion rupees ($246.17 million) via a preferential allotment of compulsory convertible debentures to Canada's Caisse De Depot Et placement Du Quebec (CDPQ).
The institutional investor's unit, Ivanhoe Cambridge, has also committed $250 million toward a co-investment platform with Piramal to provide long-term equity to residential developers.
Piramal also said it has set Dec. 31 as the record date for a rights issue, where it aims to raise 36.50 billion rupees and underwriting 90% of the issuance.