Mumbai: Apparel manufacturer Jindal Worldwide has said that two of its promoters have pledged 15.44% of their stake in the company with a lender.
In a disclosure to the Bombay Stock Exchange (BSE), Jindal Worldwide said that one of its promoter Yamunadutt Agarwal had pledged over 17.23 lakh shares representing 8.6% stake in the company.
Amitara Industries had pledged 13.72 lakh shares or 6.84% stake in the company.
Estimated on the basis of prevailing market price of Jindal Worldwide, the shares pledge would have fetched promoters about Rs26.29 crore.
As of December quarter, Yamunadutt Agarwal and Amitara Industries held 23.19% and 10.36% stake in the company respectively.
The disclosure of the pledged shares follows market regulator Sebi’s directive which mandates promoters of all listed companies to disclose information about shares pledged by the promoter group.
Shares of the company closed at Rs84.95, up 2.91% on the BSE.