Elder Pharma Promoters Plan To Up Pie To 62%

The promoters of Elder Pharmaceuticals, the Saxena family and their associates, are planning to increase their stake in the company from 46 per cent to 62 per cent.

Apart from the promoters, a non-resident Indian (NRI) based in Muscat holds around 16 per cent stake, while the balance 38 per cent is held by the public and other investors.

Though it appears that the promoters could buy out the NRI from the company, sources close to the promoters said they are in the process of finalising several options to enhance their stake.