Piramal Enterprises board approves scheme for pharma biz demerger
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.
The amalgamation of PHL Fininvest with PEL will create a listed non-banking financial services entity, it added.
Shares of Piramal Enterprises were trading at Rs 2,924.45 per scrip on BSE, up 2.90 percent from its previous close.
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