Piramal Enterprises board approves scheme for pharma biz demerger, Well being Information, ET HealthWorld

Piramal Enterprises board approves scheme for pharma biz demergerPiramal Enterprises on Thursday stated its board has accepted a composite scheme of association offering for the demerger of its prescribed drugs enterprise and simplification of the company construction to create two listed entities in monetary companies and prescribed drugs. The prescribed drugs enterprise will get demerged from Piramal Enterprises (PEL) and consolidated in Piramal Pharma, Piramal Enterprises stated in a regulatory submitting.

The amalgamation of PHL Fininvest with PEL will create a listed non-banking monetary companies entity, it added.

The merged housing finance firm, put up DHFL acquisition, will stay a 100 per cent subsidiary of Piramal Enterprises, the submitting stated.

Shares of Piramal Enterprises have been buying and selling at Rs 2,924.45 per scrip on BSE, up 2.90 per cent from its earlier shut.

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