NPIL's demerged entity to get listed in June next year

Mumbai, Aug 31 (UNI) New Chemical Entity (NCE) Research and Development unit, the demerged entity of USD 602 million Pharma major Nicholas Piramal India Limited (NPIL), will be listed on BSE and NSE by June next year.

While informing this, NPIL chairman Ajay G Piramal told reporters today that the new company is looking at various options to raise funds for future expansion plans.

''At an appropriate time after the listing, the new company will explore various options to meet its business requirements,'' Mr Piramal said.

The new entity, in which NPIL holds 18 per cent shares worth Rs 45.5 million, will focus on research and development activities currently undertaken by NPIL.

NCE has expanded its pipeline from five compounds in 2002 to 13 compounds in 2007, out of which four compounds are in clinical trials, Mr Piramal said. The de-merger will become effective from March 2008.

UNI