Piramal Pharma shares to be listed on stock exchanges after demerger today

Last week, Piramal Pharma Ltd (PPL) said that it has received approval from the Securities and Exchange Board of India (SEBI) to list the shares on the domestic stock exchanges BSE and NSE.

Under the demerger scheme, the company stated that four fully paid-up equity shares of PPL 10 each will be issued to PEL shareholders for each fully paid-up equity share in PEL whose face value 2 each held by them. The separation from PEL will strengthen PPL to be future-ready and enable it to independently pursue its growth strategies with sharp focus and identity.

The PPL comprises Piramal Pharma Solutions (PPS), Piramal Critical Care (PCC) and the Bharat Consumer Healthcare business, which sells products over the counter. It offers a portfolio of differentiated pharma products and services through end-to-end manufacturing capabilities in 15 global facilities and a global distribution network in over 100 countries.

The company’s board had approved demerger of pharma business and simplification of corporate structure in October 2021.

The shares of Piramal Enterprises commenced trading at X-Pharma on Tuesday, August 30, 2022. The company fixed September 1 as the record date for the demerger of Piramal Pharma.

“The approval from NCLT on demerger of our pharma business and simplification of corporate structure is a significant milestone. We are on track to complete the demerger and separate listing of Piramal Pharma by the third quarter of the current financial year,” Ajay Piramal said as per the company’s press release.