Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jun, 30 2018

Ajay Piramal led Piramal Enterprises sells Piramal Imaging to UK firm

Piramal Imaging, a step-down subsidiary of Piramal Enterprises, reported revenue from operations of Rs 127.48 crore in the fiscal year ended 31 March 2018.

Ajay Piramal led Piramal Enterprises sells Piramal Imaging to UK firm

Billionaire Ajay Piramal-led Piramal Enterprises Ltd has sold its entire stake in Piramal Imaging SA to the UK-based medical imaging services provider Alliance Medical Acquisitionco Ltd.

The sale was done at a base consideration of $1 plus about $1.18 million toward working capital adjustment on completion of the sale, Piramal said in a stock market disclosure.

The transaction also involves deferred consideration that will be subject to future profits of the company, it added.

Piramal Imaging, a step-down subsidiary of Piramal Enterprises, reported revenue from operations of Rs 127.48 crore in the fiscal year ended 31 March 2018.

Piramal Imaging was formed in 2012 with the acquisition of the molecular imaging research and development portfolio of Bayer Pharma AG. The company is aimed at development and global commercialization of innovative molecular imaging agents that improve early detection and characterization of chronic and life-threatening diseases.

Piramal Enterprises is a diversified conglomerate with a presence in pharmaceuticals, healthcare information management and financial services.

The company’s pharmaceutical business’ revenue increased 11% to Rs 4,322 crore in the fiscal year ended 31 March 2018 from Rs 3,893 crore the previous year, according to a company presentation on its website. Revenue from the healthcare and analytics business fell a tad to Rs 1,209 crore from Rs 1,222 crore.

Its financial services business grew 48.6% to Rs 4,982 crore from Rs 3,352 crore.

Shares of the company on Tuesday were trading at Rs 2,536.55 apiece, up 0.28% on the BSE in afternoon trade in a flat Mumbai market.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Organic Products
    About Us: Established in 2015, Chai Chun, a division of the..
    Locations looking for expansion West bengal
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • Career Counselling & Brain Programming
    About Us:  Allegiance Educare is an ISO Certified Career Counselling Company started..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2016
    Investment size Rs. 50000 - 2lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Surveillance Equipments
    About Us: VICOM Security (P) Ltd is a professionally managed Security -Surveillance,..
    Locations looking for expansion West bengal
    Establishment year 1995
    Franchising Launch Date 2018
    Investment size
    Space required 250
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Circus avenue West bengal
  • Cosmetics & Beauty Product Stores
    Gulnare Skincare offers skin care solutions for the socially conscious...
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 270
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities