Billionaire businessman Ajay Piramal’s Piramal Enterprises (PEL) has finalised a plan to demerge its financial services and pharmaceutical businesses and list them on stock exchanges to unlock value in the two fast-growing sectors.
After the demerger exercise, which is expected to be completed in the current financial year itself, PEL will become a holding company operating smaller businesses of the group, apart from controlling a sizable chunk in the two proposed listed entities, according to sources. Insiders said the realty and financial services business would be headed by …
https://www.business-standard.com/article/companies/piramal-set-to-demerge-pharma-finance-arms-list-them-on-stock-exchange-118080200056_1.html
Source: Business-Standard