Piramal Enterprises said on Thursday it was demerging its pharmaceutical and financial services businesses and listing them as two separate companies to abridge the corporate structure.
In its regulatory filings, Piramal Enterprises said the pharmaceuticals business will get demerged from Piramal Enterprises (PEL) and consolidated in Piramal Pharma.
Piramal Enterprises said on Thursday it was demerging its pharmaceutical and financial services businesses and listing them as two separate companies to abridge the corporate structure.
In its regulatory filings, Piramal Enterprises said the pharmaceuticals business will get demerged from Piramal Enterprises (PEL) and consolidated in Piramal Pharma.
The amalgamation of PHL Fininvest with PEL will create a listed non-banking financial services entity, the filing said adding that the merged housing finance firm, post DHFL acquisition, will remain a 100 per cent subsidiary of Piramal Enterprises, the filing said.