Acquisition

Piramal Pharma Limited’s wholly owned subsidiary, Piramal Healthcare Inc. (PHI), is set to invest USD 190.3 million (Rs. 1,626.49 crore) in PPL Pharma Inc. This transaction involves subscribing to 1,903 optionally convertible redeemable preference shares, financed through a combination of cash (USD 40.1 million) and the conversion of an outstanding unsecured loan (USD 150.2 million). PPL Pharma, primarily focused on holding investments in the company’s overseas subsidiaries, has shown strong revenue growth, with turnover increasing significantly over the past three years.

The transaction, expected to complete within six months, will not alter the ownership stakes of either entity.