Sachin Bansal invests ₹200 cr in Piramal Enterprises’ debt

MUMBAI: Flipkart co-founder and tech entrepreneur Sachin Bansal has invested ₹200 crore in debt paper issued by Piramal Enterprises Ltd.

Bansal has subscribed to non-convertible debentures (NCDs) issued by Piramal Enterprises, which has business interests in pharma and financial services.

“The money will be used for the financial services business,” said a person aware of the development, on the condition of anonymity. The NCDs that Bansal has subscribed to carry an interest coupon of around 9.5% and a repayment period of two years.