CDPQ to invest $250m in Piramal Enterprises.

Caisse de dépôt et placement du Québec agreed to invest $250m in Piramal Enterprises, an Indian financial and industrial group active in financial services. Piramal Enterprises will use this investment to repay debts and support growth. The flagship listed firm of the Piramal Group of companies plans to raise a total of $765m of fresh capital through a mix of rights issue and preferential allotment. “We are delighted to deepen our partnership with Piramal Enterprises, a company whose value creation approach aligns well with CDPQ’s long-term objectives and perspective as a global institutional investor. This transaction further demonstrates CDPQ’s commitment to invest in different sectors of India’s economy,” Anita M. George, Executive Vice-President and Head of Strategic Partnerships, Growth Markets at CDPQ.