Piramal Pharma Ltd, which listed its shares on the inventory exchanges on Wednesday, closed down by 4.98 per cent at Rs 191.75 on the BSE.
As a part of the demerger course of, 4 fairness shares of face worth of Rs 10 every absolutely paid up of Piramal Pharma will probably be issued and allotted for each one share of face worth of Rs 2 held in Piramal Enterprises. “The simplification of the corporate structure will unlock greater shareholder value. PPL is well poised to be a global Indian brand in the pharmaceutical space. It has an integrated business model, niche product offerings and a global team to deliver responsible growth in the future,” stated Ajay Piramal, Chairman of Piramal Group.
In June 2020, PPL signed an settlement with The Carlyle Group Inc. to speculate development fairness capital for a 20% stake in Piramal Pharma. Accordingly, the prescribed drugs enterprise was vertically demerged from Piramal Enterprises Ltd (PEL). In October 2021, the board of administrators of PEL authorised the demerger of the prescribed drugs enterprise and simplification of the company construction to rework PEL from being a multi-sector conglomerate to 2 separate sector-focused listed entities in monetary companies and prescribed drugs.
PPL consists of Piramal Pharma Solutions (PPS), an built-in contract improvement and manufacturing organisation (CDMO), Piramal Critical Care (PCC), a fancy hospital generics enterprise and the India shopper healthcare enterprise, promoting over-the-counter (OTC) merchandise. In addition, it has a three way partnership with Allergan, a frontrunner in ophthalmology within the Indian formulations market.
