PEL Enterprises should publish a guidance (not sure when but pretty soon) on what % of acquisition cost of earlier PEL can be attributed to PEL finance and remaining to Pharma.
Determine Acquisition Cost of Piramal Pharma and Piramal Finance after demerger
e.g. PEL might say 93.42% value is spun into finance business and remaining 6.58% in PPharma.
In this case If,
- PEL is acquired before demerger at Rs. X (i.e. say Rs. 2000)
Then, based on guidance, - PEL Finance acquisition cost for calculating Capital Gain after demerger is Rs. 0.9342 multipled X (i.e. 0.9342x2000 = Rs. 1868.4)
- PPharma acquisition cost for calculating Capital Gain will be Rs. 0.0658 multipled X (i.e. 0.0658x2000 = Rs. 131.6), since we get 4 shares per demerger ratio, 1 share acquisition cost for calculating Capital Gain of PPharma will be 0.0658/4 multipled by X (i.e. Rs. 32.9).
Hope this helps. Seems people can book quite a bit of loss if holding PEL Finance (for adjustments with gains somewhere), but Pharma shareholders can end up holding some good profits.
Update: Refer https://www.piramal.com/wp-content/uploads/2022/08/PEL-PPL-Demerger_Report-to-determine-Cost-of-Acqusition-S.-492C_Signed.pdf
Page 13 says 6.58% for Piramal Pharma and balance 93.42% for PEL Financial Services.