Piramal Pharma to debut on bourses on Wednesday

Piramal Pharma shares are set to debut on the bourses on Wednesday. Last Thursday, the company said it has received Sebi’s go-ahead to list its equity shares on domestic stock exchanges.

Following NCLT approval, Piramal Pharma has been demerged from Piramal Enterprises in a bid to simplify the corporate structure.

According to the notice, the security shall be listed and admitted to dealings on the exchange on the list of T Group of Securities.

As part of the demerger between the 2 companies, 4 equity shares of face value of Rs 10 each fully paid up of Piramal Pharma shall be issued and allotted for every 1 share of face value of Rs 2 held in Piramal Enterprises.

Piramal Enterprises shares ended tad lower at Rs 803.25 per share on Monday.