The deal, once completed, may value the Piramal Group’s overall pharma business at $2.5 billion, the report said.
As per the plan, the pharma businesses will be demerged from PEL and combined into a new entity, 20% of which will be owned by one of the two private equity players cited above, while at least 25% will be owned by the public and the remainder will remain with the promoters, the report added.
It must be noted that Piramal Group operates four pharma businessess, controlled by its flagship, PEL. Othe pharma companies are Piramal Pharma Solutions, Piramal Critical Care, Piramal Consumer Products, and PhytoMedicine.
Shares of the company have fallen around 33 per cent since March 2 to April 3, BSE data shows. The S&P BSE Healthcare index, on the other hand, has slipped 7.6 per cent during the period. The frontline index, S&P BSE Sensex, has declined 27.6 per cent during the period, BSE data shows.