RelCap promoter pledges 4.03%

RelCap promoter pledges 4.03%
PTI
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First Published: Fri, Feb 13 2009. 05 02 PM IST
Updated: Fri, Feb 13 2009. 05 02 PM IST
Mumbai: Anil Ambani-led Reliance Capital has said that one of its promoters has pledged 4.03% stake in the company with lenders.
In a disclosure to the Bombay Stock Exchange (BSE), Reliance Capital said that its promoter AAA Enterprises has pledged 98.93 lakh shares representing 4.03% stake in the firm.
As of December quarter, the promoters held 53.49% in Reliance Capital, wherein AAA Enterprises held a 51.45%, as per the information on the BSE website.
Calculated on the basis of today’s market price of Reliance Capital, the pledging of shares may have fetched an amount of Rs426.69 crore to the promoter.
Meanwhile, in separate regulatory filings to the stock exchanges, two other ADAG firms — Reliance Power and Reliance Natural Resources — said none of its promoters has pledged any share with the lenders.
The promoter group has not pledged any share of the company out of a total promoter holding of 84.78%, Reliance Power said.
The disclosure follows market regulator Sebi’s directive, which mandates promoters of listed companies to disclose their details of pledged shares in the wake of Satyam fiasco.
Shares of RelCap closed at Rs431.3, up 3.43%, while RelPower was up 5% at Rs108.2. RNRL rose 1.25% to Rs48.75 on the BSE.
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First Published: Fri, Feb 13 2009. 05 02 PM IST