Piramal Pharma drops on listing

Piramal Pharma (PPL) fell 1.39% to Rs 199 after listing on the bourses today.

PPL listed today with a fully paid face value of Rs 10 each after demerging from Piramal Enterprises (PEL). The PPL counter opened at Rs 201.80 on the BSE, which is also the day's high so far. The stock hit the day's low of 191.75 so far.

Under the demerger scheme, shareholders of PEL received 4 shares of PPL for every 1 share in PEL, in addition to their existing holding in PEL.

The PEL board approved the demerger in October 2021. Two operating subsidiaries -- Hemmo Pharma (focused on peptide APIs development and manufacturing capabilities) and Convergence Chemical (setup for development, manufacturing and selling speciality fluorochemicals) -- got amalgamated with PPL to create a consolidated listed pharma entity.

PPL offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization; Piramal Critical Care (PCC), a Complex Hospital Generics business, and the India Consumer Healthcare business selling over-the-counter products.

PPS offers end-to-end development and manufacturing solutions through a globally integrated network of facilities across the drug life cycle to innovators and generic companies.

PCC's complex hospital product portfolio includes inhalation anaesthetics, intrathecal therapies for spasticity and pain management, injectable pain and anaesthetics, injectable anti-infectives, and other therapies.

The Indian Consumer Healthcare business is among the leading players in India in the self-care space, with established brands in the Indian consumer healthcare market.

In addition, PPL has a joint venture with Allergan, a leader in ophthalmology in the Indian formulations market. In October 2020, the company received a growth equity investment from the Carlyle Group.

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