HomeFinance NewsFlipkart co-founder Sachin Bansal invests Rs 200 crore in Piramal Enterprises' debt, says report

Flipkart co-founder Sachin Bansal invests Rs 200 crore in Piramal Enterprises' debt, says report

Flipkart co-founder, Sachin Bansal has invested about Rs 200 crore in non-convertible debentures (NCDs) issued by Piramal Enterprises, Mint reported citing sources.

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By CNBC-TV18 July 15, 2019, 10:13:56 AM IST (Published)

Flipkart co-founder Sachin Bansal invests Rs 200 crore in Piramal Enterprises' debt, says report
Flipkart co-founder, Sachin Bansal has invested about Rs 200 crore in non-convertible debentures (NCDs) issued by Piramal Enterprises, Mint

reported citing sources.

The NCDs subscribed by Bansal carry an interest coupon of around 9.5 percent and a repayment period of two years, the report said.

Bansal had invested Rs 250 crore each, via debt, in non-banking financial companies (NBFCs) Altico Capital India Ltd and IndoStar Capital Finance Ltd, Mint reported earlier in February. With the latest loan to Piramal Enterprise, Bansal's investment is worth Rs 100 million, the report added.

Piramal Enterprises and Sachin Bansal did not respond to Mint's request seeking comment on the story.
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