30 Aug 2022 , 03:08 PM
With effect from today, the shares of Piramal Enterprises Ltd (PEL) began trading after the demerger with Piramal Pharma. By 3 p.m. PEL's stock price was down by more than 44%.
3.23 million equity shares, or 1.36 % of the company's total equity, changed hands on the NSE and BSE, more than double the trading activity on the counter. The S&P BSE Sensex, in contrast, was up 1.2% at 58,678 points. For the purpose of issuing and allocating 4 equity shares of Piramal Pharma (PPL) worth Rs10 each for every equity share worth Rs2 granted to PEL shareholders, the record date is set as September 1, 2022.
Additionally, the company intends to continue forming newer alliances in its embedded finance sector, leading to a 40—50% increase in retail disbursements (on a CAGR basis). Despite a decrease in the company's current wholesale book, this will allow it to quadruple its total AUM from FY 2022 levels, according to the company's FY22 annual report. Primal Pharma claimed to have made organic and inorganic investments across its pharmaceutical operations.
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