Elder Pharma promoters pledge 10 lakh more shares

Drug firm Elder Pharmaceuticals on Friday said its promoters have pledged 10 lakh more shares of the company, taking the quantum of such shares of the firm to 9.46 per cent.

Semit Pharmaceuticals Chemicals, a part of the promoter group has pledged ten lakh shares of the company on September 19, Elder Pharmaceuticals said in a filing to the BSE.

While the company did not disclose the financial details of the transaction, based on the closing share price of Rs 375.65 per share on the BSE on the day, the shares are worth around Rs 37.56 crore.

Post the latest transaction, the total number of pledged shares stood at 19.43 lakh, aggregating 9.46 per cent stake in the company, the filing added.

Shares of Elder Pharmaceuticals on Friday closed at Rs 379.85 on BSE, up 1.14 per cent from its previous close.