Indian Billionaire Ajay Piramal’s $490 Million Pharma Stake Sale To Carlyle Will Help Him Pare Debt

Mukesh Ambani’s deal-making spree since April, which garnered a cumulative $15.2 billion for his telecom and broadband firm Jio, amid the pandemic, had everyone agog. Now it’s the turn of billionaire Ajay Piramal, whose son, coincidentally, is married to Ambani’s daughter, to make a splash. In one of the largest private equity deals in the pharma sector in recent times listed Piramal Enterprises agreed to sell a 20% stake in its pharma subsidiary for $490 million to private equity firm, The Caryle Group.