Piramal Enterprises - Much Awaited Demerger Announced; To Strengthen Governance, Create Value: Motilal Oswal
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ICICI Securities Report
Piramal Enterprises Ltd., post Dewan Housing Finance Corporation Ltd.'s acquisition and integration, has now announced the much awaited demerger of its pharma business and simplification of the corporate structure.
Board has approved a scheme of arrangement with the objective of transforming the group from a multi-sector conglomerate into two separate sector focused listed entities in financial services and pharma business.
The demerger will:
strengthen the governance architecture for the businesses with separate dedicated boards and management teams;
create an optimal capital structure for each of the two businesses;
empower and enable both the entities to independently pursue their growth strategies (organically and inorganically) with sharper focus;
trigger value-unlocking for Piramal Enterprises' shareholders.
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