The Board of Directors of Elder Pharmaceuticals Ltd has issued and allotted 5 lakh warrants to the Elder Pharma Employees Welfare Trust, Mumbai.

Meanwhile, the Company has made applications to Foreign Investment Promotion Board (FIPB), Delhi for its permission to issue and allot 14.80 lakhs equity shares and 6 lakhs warrants to Citicorp International Finance Corporation, USA and ACRAF S.p.A, Italy. The Board will proceed with their allotment within fifteen days of the FIPB permission, the release said here.