Billionaire Ajay Piramal is considering a sale of his contract pharmaceutical operations for $1 billion (about Rs 7,346 crore), reported Business Standard.
Piramal Enterprises Ltd is working with advisers to gauge interest in the business known as Piramal Pharma Solutions, the report said citing people close to the development.
Piramal Pharma Solutions is a contract development and manufacturing organisation. As per the report, the company has already forwarded preliminary marketing materials to potential buyers.
A representative for Piramal Enterprises told the newspaper that the company doesn’t comment on market speculation.
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