Shares worth Rs 575 crore of Piramal Pharma were unloaded, almost landing Anand Piramal’s company in trouble, but the shares were bought by Ratan Tata’s company, among others.
Mukesh Ambani’s son-in-law Anand Piramal, who belongs to the billionaire Piramal family, is one of the top businessmen in the country. Anant Piramal, who is married to Isha Ambani, recently found himself in business turmoil when his company’s shares were unloaded, but landed on its feet soon.
Piramal Pharma Solutions, which is headed by Anand Piramal’s father Ajay Piramal, saw a major change in its shareholders after nearly 60 lakh shares of the company changed hands in six major business deals, one of which involving Ratan Tata’s mutual funds company.
A total of six large deals were executed after SmallCap World Fund Inc sold a total of 61,09,068 shares of Piramal Enterprises 17 tranches. The total cost of the unloaded came out to around Rs 575 crore, which means that they were sold roughly at the price of Rs 941.15 apiece.
Ratan Tata’s company Tata Mutual Funds (TMF) was one of the buyers of the major chunk of shares, while other companies in the big business deal were Plutus Wealth Management, Bandhan MF BOFA Securities Europe SA, BNP Paribas Arbitrage and Segantii India Mauritius, among others.
It must be noted that after the shares of the Piramal Group company were unloaded, the share prices of Piramal Pharma Solutions went up by 4 percent, leading to a big profit for Isha Ambani’s husband Anand Piramal.
In a separate transaction on BSE, New World Fund Inc offloaded more than 34.62 lakh shares of Piramal Enterprises for Rs 326 crore through an open market transaction, as per the bulk deal data. However, the exact details of the share buyers could not be ascertained.
While the share prices of Piramal Enterprises were down by over 1 percent after this major deal, the Piramal Pharma shares were up by four percent, leading to a profit for the billionaire family, all thanks to Tata Mutual Funds and other buyer companies.
(With inputs from agencies)
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 "Isha Ambani’s husband Anand Piramal’s big profit: Piramal Group’s Rs 575 crore shares unloaded, how Ratan Tata helped")
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