Piramal Pharma shares list after demerger, hit 5% lower circuit
Piramal Pharma Limited, now a separate entity, was recently demerged from Piramal Enterprises Limited.
Piramal Pharma shares listed on stock exchanges -- NSE and BSE, on Wednesday after the demerger. Piramal Pharma stocks listed at Rs 201.8 apiece on the BSE and Rs 200 on the NSE. Piramal Pharma Limited, now a separate entity, was recently demerged from Piramal Enterprises Limited. Earlier in August, Piramal Enterprises Limited at its board meeting had approved the demerger of its pharma business via a composite scheme of the arrangement.
Shares of Piramal Pharma dipped 5 per cent to hit its lower circuit at Rs 191.75 per share on the BSE.
Piramal Pharma Shares Listing
Piramal Pharma shares listed at a fully paid face value of Rs 10 each.
The Securities and Exchange Board of India (Sebi) last week granted approval to Piramal Pharma to list its shares on domestic stock exchanges.
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Piramal Enterprises Demerger Ratio
According to Piramal Enterprises, the company has issued 4 equity shares of Rs 10 each of Piramal Pharma for every 1 equity share of Rs 2 each to shareholders of Piramal Enterprises Limited.
#PiramalPharma की दमदार लिस्टिंग...
पीरामल फार्मा: NSE पर ₹200/Sh पर लिस्ट
पीरामल फार्मा: BSE पर ₹201.80/Sh पर लिस्ट#PiramalPharmaListing #AjayPiramal @BSEIndia @NSEIndia @PiramalGroup @AnilSinghvi_ @deepdbhandari pic.twitter.com/X8XOTeCWgI
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According to Zee Business research, the company has very strong finances. The company's last year's revenue stood at around Rs 6700 crores. The compounded growth of the company is around 13 per cent.
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