Jubilant Life Sciences’ Demerger May Complete In FY21: ICICI Securities
(Photographer: Dhiraj Singh/Bloomberg)

Jubilant Life Sciences’ Demerger May Complete In FY21: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Jubilant Life Sciences Ltd. has recently received the National Company Law Tribunal approval for demerger of pharma and life science ingredients (LSI) businesses into two separate companies.

We believe separate listing of both companies should happen in the next few weeks, before FY21 ends.

The company had announced this demerger in October 2019 with the rationale of two separate and focused entities for pharma and LSI segment and to unlock shareholder value.

There could be some value unlocking as combined entity trades at a discount to sector peers; however, we do not expect material valuation re-rating considering modest growth outlook and debt on the books.

Click on the attachment to read the full report:

ICICI Securities Jubilant Life Update.pdf


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