Piramal Pharma lists share on BSE, NSE

Piramal Pharma on Wednesday listed its shares on the BSE and National Stock Exchange (NSE). In June 2020, the Carlyle Group Inc invested equity capital for a 20 per cent stake in Piramal Pharma Limited (PPL).

Accordingly, the pharmaceuticals business was vertically demerged from Piramal Enterprises Limited (PEL).

In October 2021, the board of directors of PEL approved the demerger of the pharmaceuticals business and simplification of the corporate structure to transform PEL from being a multi-sector conglomerate to two separate sector-focused listed entities in financial services and pharmaceuticals.

PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organisation (CDMO); Piramal Critical Care (PCC), a Complex Hospital Generics business; and the India Consumer Healthcare business, selling Over-The-Counter (OTC) products.

In addition, it has a joint venture with Allergan, a leader in ophthalmology in the Indian formulations market.

"The listing is in line with our objective to transform the group from a multi-sector conglomerate into two separate sector-focused listed entities. The simplification of the corporate structure will unlock greater shareholder value," Piramal Group Chairman Ajay Piramal said in a statement.

PPL Chairperson Nandini Piramal said that going forward, the Mumbai-based group intends to maintain focus on growing its chosen business lines and will identify and secure inorganic and organic growth opportunities to generate consistent shareholder value.