Mumbai: Key promoter and managing director of ayurvedic drug company Zandu Pharmaceutical Works Ltd, Girish G. Parikh, who is resisting a takeover by Emami Ltd, has consolidated his position in the company by rasing his stake to 35.73% through an internal transfer of shares from his extended family.

Emami, a Kolkata-based cosmetics firm, holds about 27.5% in Zandu after it bought a 24% stake in the firm from another promoter, the Vaidya family. It later made an offer to Zandu shareholders for an additional 20% stake and has increased its offer price twice.

ch.unni@livemint.com

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