Piramal Enterprises gets shareholders' nod to demerge pharma business

Ajay Piramal-owned Piramal Enterprises has received shareholders’ approval to  demerge its pharmaceuticals business and simplify the corporate structure.

The company has received 99 per cent of votes at the  shareholders meeting held on Tuesday, PEL said in a statement.

The demerger will divide the  company into two focused entities —financial services and pharmaceuticals.