Nicholas Piramal Archives - indiabusinessview

Vodafone parks 5.5% India stake with Piramal Healthcare

August 10, 2011August 20, 2014Editor

Vodafone Plc announced that Piramal Healthcare, Ajay Piramal’s group flagship, will pay $640 million or about Rs 2,900 crore to acquire a 5.5% stake in Vodafone Essar. This will help raise cash for Vodafone as well as allow it to remain compliant with India’s foreign direct investment rules for the telecom sector, which mandate a 74% foreign shareholding cap.

Nicholas Piramal’s lowers risk by transferring out new drug research

September 3, 2007August 20, 2014Editor

Nicholas Piramal India’s share price is up by 16% over a week, closing today at Rs 288. Its decision to float a separate company, to which it will transfer its new drug research business, and list it on the bourses is behind this excitement.