For the purpose of issuing and allocating 4 equity shares of Piramal Pharma (PPL) worth Rs10 each for every equity share worth Rs2 granted to PEL shareholders, the record date is set as September 1, 2022.
Piramal’s financial business contributed about 52 per cent of revenue of the company in the financial year 2021-22, whereas the remaining 48 per cent of revenue came from the pharmaceutical business.
In July this year, PEL said it had also received RBI approval for the NBFC licence. Subsequent to the demerger, PEL said as an NBFC it will have a loan book of $9 billion, while the pharma firm will be a significant player with revenues of $1 billion.
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