Piramal Enterprises Limited approved allotment of 1,750 Secured, Rated, Listed, Redeemable Principal Protected, Market Linked Non-Convertible Debentures (`Debentures') each having
a face value of INR 1,000,000/-, at a further issue price of INR 1,005,497/- per Debenture,
aggregating to INR 1,759.6 million on private placement basis. These Debentures are proposed
to be listed on the Debt Segment and Capital Market Segment of National Stock Exchange of
India Limited (NSE) and BSE Limited respectively, and NSE being the designated Stock
Exchange.