The Dhanuka group, which took over Orchid Pharma a couple of years ago, will be diluting 15 percent stake in the pharma company by March 2023. Speaking to CNBC-TV18, Dhanuka Agritech MD M.K. Dhanuka said they are looking at all option to reduce the holding in Orchid Pharma.

“We are looking at options to reduce holding in Orchid Pharma. Since it is a mandatory requirement to dilute 15 percent by March 2023, we are looking at the best option which might be available.”

The group is also looking to merge Orchid Pharma and Dhanuka Labs, he said.

“We are also in the process merging Dhanuka Laboratories Limited with Orchid Pharma Limited, so in that way the overall company size will be more than Rs 1,000 crore after merger and we do hope that it will have positive impact on the company.”

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(Edited by : Shoma Bhattacharjee)