Piramal Pharma has announced the sale of its decommissioned facility located at A-159, MIDC, Wagle Industrial Estate, Thane West, for approximately ₹8.5 crore (plus applicable taxes). The buyer is Global Pharma, a company unrelated to Piramal’s promoters.
This comes after the earlier memorandum of understanding (MoU) regarding the same property, signed in January 2025, was terminated due to commercial reasons and unfulfilled conditions.
The company clarified that the unit had been non-operational and contributed nothing to its revenue or net worth in the previous financial year. As such, the sale will have no impact on its ongoing operations or financials.
The Administrative Committee of Piramal Pharma’s Board has approved the execution of the sale deed and related agreements. The transaction is expected to be completed within 90 days, subject to standard closing conditions mentioned in the sale documents.
Importantly, the deal does not fall under related party transactions, making it a straightforward asset sale to an external entity.
In the meantime, Piramal Pharma shares traded in a narrow range in early trade today. The stock opened at ₹211.56, and, at the time of writing, touched a high of ₹212.39, and slipped to a low of ₹206.40 during the session. It continues to move within its broader market trend. Over the past year, the stock has seen a 52-week high of ₹307.90 and a low of ₹145.25.
