PIRPHYTO

��Members of the Exchange are hereby informed that the trading in Equity Shares of Piramal Phytocare Limited shall be suspended w.e.f. December 11, 2019 (i.e. closing hours of trading on December 10, 2019) on account of Scheme of Amalgamation of Piramal Phytocare Limited with Piramal Enterprises Limited.

Piramal Phytocare Limited has informed the Exchange that "We have noticed a sudden volatility in the Company's stock price over the last few days. During this period, neither the Company has made any announcement nor has there been any material development with regards to Company's operations. In line with our group's strong corporate governance framework, looking at the sudden stock price movement, we would like our investors to undertake careful evaluation before making any investment decision in the Company's stock".

The Exchange sought clarification from Piramal Phytocare Limited with respect to news item captioned "Piramal to exit drug discovery business". The Company has clarified that "Piramal Phytocare Limited (formerly known as Piramal Life Sciences Limited) is not a subsidiary of Piramal Enterprises Limited as incorrectly mentioned in the captioned news article. The news article also inadvertently mentions that the business of drug discovery or new chemical and biological entity research is carried on by the Company. However, this business was demerged to Piramal Enterprises Limited during financial

Price movement : Significant price movement has been observed in Piramal Life Sciences Limited.. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Piramal Life Sciences Limited has vide its letter inter-alia stated, "We are not aware of any information/announcement (including impending announcement) which in our opinion may have a bearing on the price/volume behaviour in the scrip."

News Verification : The media had reports that Piramal Life Sciences Limited. may merge with Piramal Healthcare Limited. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Piramal Life Sciences Limited has vide its letter inter-alia stated," We would like to state that the Company explores various strategic moves from time to time. However, as a policy and in the interest of its shareholders, the Company does not comment on any report

News Verification : The media had reports of a possible takeover of Piramal Life Science Limited. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Piramal Life Sciences Limited has vide its letter inter-alia stated,"The media report about the possible takeover of the company is totally unfounded."

News Verification : The media had reports that MPM Capital, Orbimed may buy strategic stake in the company. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Piramal Life Sciences Limited has vide its letter inter-alia stated, "The Company is engaged in New Chemical Entity (NCE) Research and Development Activity, a capital-intensive activity for which company explores from time to time various strategic funding act