Piramal Pharma has received an approval for subscription to 139,366,844 redeemable preference shares of face value of EUR 1 each aggregating to EUR 139,366,844, of Piramal Dutch Holdings N.V. (PDH NV), a wholly owned subsidiary of the Company through conversion of outstanding unsecured loan of equivalent amount owed by PDH NV to the Company as on August 26, 2024 (hereinafter referred to as the Investment). The Administrative Committee of the Board of Directors of the Company at its meeting held on August 30, 2024, has approved the same.
The investment is expected to be completed within a period of one week. There will be no change in the percentage of holding of the Company in PDH NV, pursuant to the aforesaid Investment and PDH NV would continue to remain a wholly owned subsidiary of the Company. The promoter/promoter group/group companies of the Company are interested in PDH NV to the extent that it is a wholly owned subsidiary. The Investment does not require any governmental or regulatory approval.
Piramal Pharma provides end-to-end pharma services to customers and a portfolio of differentiated pharma products across a domestic and global distribution network.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1668.00 |
| Dr. Reddys Lab | 1232.25 |
| Cipla | 1228.90 |
| Zydus Lifesciences | 936.35 |
| Lupin | 2328.60 |
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