- ALSO READ
The NCLT on Friday approved the demerger of Piramal Enterprises’ pharma business with the parent firm now retaining the financial services business.
This paves the way towards creation of two separate listed entities — Piramal Enterprises and Piramal Pharma. “The approval... is a significant milestone. We are on track to achieve the completion of demerger and separate listing of Piramal Pharma by the third quarter,” Ajay Piramal, chairman, Piramal Enterprises, said in a statement.
The Board had approved the demerger in October last year and the company later obtained consent from the RBI, SEBI, stock exchanges, and clearances from creditors and equity shareholders for the scheme.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Sat, August 13 2022. 00:44 IST