Piramal Pharma shares hit 5% lower circuit after listing

Shares of ' pharma entity dipped 5% to hit its lower circuit at Rs 191.75 per share after opening at Rs 201.8 on the BSE in Wednesday's trade.

Earlier last week, the company obtained a go-ahead from the National Company Law Tribunal (NCLT) for the listing of its equity shares. Furthermore, the listing of the stock is well in line with the company’s plan to list it by the third quarter of the current fiscal year.

According to the circular by BSE, the securities of Piramal Pharma will be admitted to trading in the T group of securities.

As part of the demerger between the two companies, four equity shares of face value of Rs 10 each fully paid up of Piramal Pharma will be issued and allotted for every one share of face value of Rs 2 held in Piramal Enterprises.

Piramal Pharma Limited (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network in over 100 countries.


PPL has a differentiated business model, comprising Contract development and manufacturing (CDMO), complex hospital generics (CHG), and India Consumer products (ICH).

Piramal Enterprises, meanwhile, traded 1% higher at Rs 827.25 per share around 10.10 am.