Piramal Enterprises eyeing $500 mn fund raise; appoints Rothschild for pharma stake sale
Updated : January 28, 2020 05:54 PM IST
Investment bank Rothschild has been mandated by Piramal Enterprises to sell around 20% stake in the pharma vertical.
The deal values the pharma business at $2.5 billion and is aimed at raising growth capital and strengthening the groups’ balance sheet which has come under pressure.
The pharma segment contributed Rs 4,786 crore or 36% of the group’s revenues of Rs 13,215 crores in FY19.