Parimal Pharma’s Right Issue Approved by SEBI
The Securities and Exchange Board of India (SEBI) has given Piramal Pharma permission to raise money through a rights issue of shares with a target of Rs 1,050 crore. Piramal Pharma is a well-known pharmaceutical firm.
Recent data made public by SEBI on Tuesday indicates that Piramal Pharma submitted the required paperwork to the regulatory body in March and received its observation letter on July 12. This is an essential step before launching public offerings, such as initial public offerings (IPOs) and rights issues.
Piramal Pharma proposes to offer fully paid-up equity shares under the proposed rights issue to its current eligible shareholders, with a goal of raising a total of Rs 1,050 crore. The money earned from this project will be used for general company objectives and debt reduction.
Piramal Pharma is renowned for providing clients from all over the world with a wide variety of pharmaceutical services. The business provides a wide range of specialised pharmaceutical items through its broad local and international distribution network.
Piramal Pharma is an integrated contract development and manufacturing organisation (CDMO) that works across three distinct business sectors. Piramal Critical Care focuses on complex hospital generics (CHG), while India Consumer Healthcare (ICH) is in charge of marketing renowned over-the-counter brands like Little’s, Lacto Calamine, and I-Pill.
About Piramal Pharma:
Piramal Pharma Limited is a pharmaceutical company that specializes in manufacturing and developing a diverse range of pharmaceutical solutions to combat various diseases. With a global presence, Piramal Pharma caters to customers around the world.
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