The Ajay Piramal entity’s listing follows the demerger from parent Piramal Enterprises (PEL) as part of an exercise to simplify its structure. Shareholders of PEL were entitled to four shares of Piramal Pharma for every share they held. The group made a re-entry into pharma 10 years after selling its healthcare business to NYSE-listed pharma giant Abbott Labs for $2.5 billion then.
