As per the article, 93.42% of the acquisition cost will get attributed to Finance entity and only 6.58% would go towards PPL. If this is true, my understanding is as below
If you purchased shares of PEL before 29th August, let’s say at Rs 2000 each, then the revised acquisition cost for capital gain calculations would be as below
PEL – Finance entity – Rs 2000x .9342 = Rs 1868.4 per share
PPL – Pharma entity – Rs. 2000 x .0658/4 = Rs 32.9 per share
If true, one would be booking large capital loss on financial entity share sale (1063-1868=805 per share loss) and large capital gains on sale of PPL shares , when they get listed. (as per current market estimate of listing at Rs 200 per share, CG profit per share would be Rs 200-32.9= Rs 167 )
Assuming all of the above assumptions are true, then long time PEL shareholders would be worse off post demerger 167X4-805 = -137 per share loss). As everyone is talking about value unlocking post demerger, I think there is scope of both PEL and PPL share prices to rise beyond current assumptions.
Disclosure – invested for last 5+ years and running our of patience 
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