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Ajay Piramal to Sell Glass Business For $1 Billion

After unlocking value in his pharma business and flagship conglomerate, Ajay Piramal is now shifting focus to his private companies that are non-core to his empire to raise funds. Piramal has decided to sell his glass business at a time when the global pandemic has boosted pharma sales, world-wide.

BY Realty Plus
Published - Jul 31, 2020 4:59 AM

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After unlocking value in his pharma business and flagship conglomerate, Ajay Piramal is now shifting focus to his private companies that are non-core to his empire to raise funds. Piramal has decided to sell his glass business at a time when the global pandemic has boosted pharma sales, world-wide. Bank of America and Axis Capital have been mandated to find buyers for Piramal Glass for a potential $800 million to $1 billion sale. Piramal Glass is Asia’s largest player, Buyout funds Blackstone, Advent, Temasek, global peers Saverglass, Veriscence, Gerresheimer among many were approached.

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