Emami to pare promoters' pledged shares to 35%, is in talks with investors

Although firm's debt as on March 31, 2018 was Rs 118 cr, sources say promoters had to pledge part of their shares with creditors to finance Group's cement biz and others like AMRI Hospitals

Emami Ltd is eyeing to reduce the percentage of promoter’s pledged shares from the current level of 47.6 per cent to atleast 35 per cent and is in talks with private equity and investment firms.

Also, in Emami Paper Mills, the percentage of shares pledged by the promoters stands at 49.93 per cent. This month itself, the promoters at Emami Paper Mills increased their pledged shares from the previous level of 44.98 per cent to the current level of 49.93 per cent.

Although Emami Ltd’s debt as on March 31, 2018 was around Rs 118 crore, sources said the company’s