Piramal Enterprises - Piramal Pharma completes 20% stake sale - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Piramal Enterprises-arm Piramal Pharma has completed sale of 20 per cent stake in the company for Rs 3,523.40 crore to US-based global investment firm Carlyle Group Inc. Piramal Pharma has received Rs 3,523.40 crore from CA Alchemy Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc. The transaction values the Pharma Business at an enterprise value of USD 2,775 million (over Rs 20,300 crore) with an upside component of up to USD 360 million (over Rs 2,630 crore) depending on the company's FY21 performance. This transaction is one of the largest private equity deals in the Indian pharmaceutical sector. It provides Piramal Pharma Ltd (PPL) growth capital that enables it to invest in accelerated business growth through both organic and inorganic opportunities. This is a very positive development for the company."

Shares of PIRAMAL ENTERPRISES LTD. was last trading in BSE at Rs.1349.45 as compared to the previous close of Rs. 1319.2. The total number of shares traded during the day was 45518 in over 2803 trades.

The stock hit an intraday high of Rs. 1359 and intraday low of 1321. The net turnover during the day was Rs. 60856606.

Source : Equity Bulls

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