News
Piramal Enterprises Board approves demerger and simplification of corporate structure
The Board of Directors of Piramal Enterprises Limited, at its meeting on October 7, approved a composite scheme of arrangement providing for the demerger of the pharmaceuticals business from PEL and simplification of the corporate structure to create two industry-focused listed entities in Financial Services and Pharmaceuticals.
Piramal Enterprises Limited, he said, will get transformed into a large listed diversified NBFC, focused on retail and wholesale financing, with a consolidated loan book of Rs 65,000 crore.
According to a press release, the demerger and simplification of the corporate structure is expected to create synergies for both the companies and unlock significant value for both the companies and stakeholders.
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