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Piramal Pharma’s arm inks pact with PPL Pharma
Apr-24-2025

Piramal Pharma’s material step-down wholly owned subsidiary -- Piramal Healthcare Inc. (PHI) has entered into a Stock Subscription Agreement and Loan Conversion Agreement with PPL Pharma Inc. (PPL Pharma), another step-down wholly owned subsidiary. 

As part of the deal, PHI will subscribe to 1,903 optionally convertible redeemable preference shares (OCRPS) of face value $100,000 each, aggregating to $190,300,000 (Rs 1,626.49 crore) of PPL Pharma, by payment of cash consideration to the extent of $40,100,000 and by way of conversion of outstanding unsecured loan of $150,200,000 owed by PPL Pharma to PHI as on April 1, 2025 (hereinafter referred to as the Transaction).

The Transaction is expected to be completed within a period of around 6 months approximately. Pursuant to the aforesaid Transaction, there will be no change in the percentage of holding of the Company in PHI and PPL Pharma and both entities would continue to remain wholly owned subsidiaries of the Company.  

Piramal Pharma provides end-to-end pharma services to customers and a portfolio of differentiated pharma products across a domestic and global distribution network.


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