Pharmaceutical firm Sanofi India secured its board's approval to demerge its consumer health business into its wholly owned subsidiary, Sanofi Consumer Healthcare India, according to a Wednesday release.
Upon completion of the proposed demerger, Sanofi India shareholders will be entitled to receive 1:1 Sanofi Consumer Healthcare India equity shares of 10 Indian rupees each, for each equity share owned.
The new unit will be listed on local bourses, BSE and the National Stock Exchange, subject to necessary approvals.