The long-awaited demerger of Piramal Enterprises' pharma and financial services business is set to take place on September 1. The pharma entity's shares are expected to be listed by the third quarter of the 2022-23 fiscal year.
Shareholders of Piramal Enterprises will receive four shares in Piramal Pharma for every share held in Piramal Enterprises. Piramal Pharma will have a total of 1,193 million outstanding shares.
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