Deals Buzz: Sachin Bansal invests ₹200 crore in Piramal Enterprises’ debt

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Sachin Bansal invests ₹200 crore in Piramal Enterprises’ debt

Flipkart co-founder and tech entrepreneur Sachin Bansal has invested ₹200 crore in debt paper issued by Piramal Enterprises Ltd, Mint reported citing a person aware of the development. The funds raised via non-convertible debentures (NCDs) issued at an interest coupon of around 9.5% and a repayment period of two years, would be used in Piramal’s financial services business. Bansal’s loan to Piramal Enterprises follows investments by him in debt deals worth more than $100 million.