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Piramal Group approves demerger of pharma biz

New Delhi, October 7

Piramal Enterprises on Thursday said its Board has approved a composite scheme of arrangement providing for the demerger of its pharmaceuticals business and simplification of the corporate structure to create two listed entities in financial services and pharmaceuticals.

Composite Scheme

After the demerger, Piramal Pharma will become one of the large pharma companies listed on the NSE and BSE

The pharmaceuticals business will get vertically demerged from Piramal Enterprises and consolidated under Piramal Pharma, the company said in a regulatory filing. — PTI

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