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Piramal Eyes 20% Pharma Stake Sale

Looking To Raise Funds For Growth Through Acquisitions

 
• By Penelope MacRae

Piramal Enterprises, one of India’s biggest conglomerates, has said it is looking to sell up to a 20% stake in its Piramal Healthcare business to raise funds for spurring growth of the division through acquisitions.

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Piramal is looking to sell a stake of up to a fifth in its pharma business • Source: Shutterstock

India’s Piramal Enterprises says it is considering selling up to a 20% minority stake in its pharmaceutical business, Piramal Healthcare, to raise money for acquisitions aimed at bulking up the business ahead of an eventual stock market listing.

The acquisition plan is in line with the leading conglomerate's long-term plan to demerge its pharmaceutical and financial services businesses and to list them on the stock exchange, executive director Nandini Piramal told Indian news channel CNBC-TV18

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