The BSE has announced that Piramal Pharma Ltd, which recently split off from Piramal Enterprises Ltd (PEL), will list its shares on October 19. The stock exchange stated: “Trading Members of the Exchange are hereby advised that the Equity Shares of Piramal Pharma Limited shall be listed and admitted to trading on the Exchange in the list of T Group of Securities effective from Wednesday, October 19, 2022.”
The notice also stated that the shares’ fully paid face value would be listed at Rs10 per share. In an effort to streamline the organizational structure of the business, Piramal Pharma was separated from PEL in August. On August 12, the National Company Law Tribunal (NCLT) approved the demerger plan.
According to a statement released by the company, the demerger from PEL is intended to firmly empower Piramal Pharma to be future-ready and enable it to freely pursue its growth goals with more focus and identity. In addition to their current ownership in the parent company, Piramal Enterprises shareholders have been allocated four shares of Piramal Pharma for every one share of PEL as compensation for the demerger, the statement said.
Notably, Piramal Pharma consists of the over-the-counter drug retailer India Consumer Healthcare and the pharmaceutical companies Piramal Pharma Solutions (PPS) and Piramal Critical Care (PCC).
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