The administrative committee of the company’s board has approved allotment of 25,000 secured redeemable NCDs having face value of Rs 10 lakh each, aggregating to Rs 2,500 crore on private placement basis, Piramal Enterprises said in a BSE filing
Piramal Enterprises to raise Rs 2,500 crore
As per estimates, over 90 per cent of the business in India is from family owned companies. And these range from the ‘Mom and Pop’ Kirana stores to large conglomerates and SME’s. India has about 111 publicly-listed family-owned businesses, the third highest in the world. China tops the tally with 159 such companies followed by the US with 121.
What does all this mean? If we have to look at the top 500 family businesses worldwide as a separate entity, they will constitute the third-largest economy considering that the combined annual sales amounted to $6.5 trillion.
Why Family Businesses are Better Equipped to go Global?
Yesterday, it was the business as family. Today, it is the family as business. And tomorrow, it will be the business of the family to ensure that there is a future for both the business and the family.
India’s Business Families: Redefining the roles