Piramal Enterprises Demerger

Piramal Enterprises Ltd (PEL) demerging its pharma business, each PEL shareholder on record date will get 4 shares of Piramal Pharma. The company fixed September 1, as the record date for the demerger of Piramal Pharma. The shares of Piramal Pharma will be listed tentatively by Oct/Nov.

Under the demerger scheme, the company said four fully paid-up equity shares of PPL of ₹10 each (Face Value) to be issued to PEL shareholders for every one fully paid-up equity share in PEL with face value of ₹2 each held by them.

Source: Livemint

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