Piramal Pharma Ltd, which recently demerged from Piramal Enterprises Ltd (PEL), will list its shares today, according to a notice issued by the BSE.
"Trading Members of the exchange are hereby informed that effective from October 19, 2022, the equity shares of Piramal Pharma Limited shall be listed and admitted to dealings on the exchange in the list of T Group of Securities," the stock exchange said.
The shares would be listed at a fully paid face value of Rs 10 each, the notice added.
Piramal Pharma was demerged from PEL in August, as part of the strategy to simplify the company's corporate structure. The demerger plan received a nod from the National Company Law Tribunal (NCLT) on August 12.
The demerger from PEL is aimed at firmly empowering Piramal Pharma to be future-ready and enable it to independently pursue its growth strategies with sharper focus and identity, a statement issued by the company said.
In consideration of the demerger, shareholders of Piramal Enterprises have been allotted four shares of Piramal Pharma for every one share in PEL, in addition to their existing holding in the parent entity, the statement added.
Piramal Pharma, notably, includes Piramal Pharma Solutions (PPS), Piramal Critical Care (PCC), and the India Consumer Healthcare business of PEL, which sells over-the-counter products.
With PTI inputs
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