3 Adag firms’ promoters revoke Rs7,500 cr pledged shares

3 Adag firms’ promoters revoke Rs7,500 cr pledged shares
PTI
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First Published: Tue, Sep 15 2009. 03 52 PM IST
Updated: Tue, Sep 15 2009. 03 52 PM IST
Mumbai: Three Anil Dhirubhai Ambani Group companies — Reliance Communications, Reliance Capital and Reliance Infrastructure — have revoked pledged shares worth Rs7,500 crore from lenders.
The promoters of the three firms have got around 14.90 crore shares released which had been pledged to lenders, according to disclosures made by the firms on the Bombay Stock Exchange.
“Promoter group has reduced shares pledged by them earlier by 11.32 crore shares, constituting 5.48% of outstanding capital of the company,” RCom said in the filing.
The shares pledged by RCom’s promoter group firm AAA Communication Pvt Ltd have come down to 7.71%, out of the total promoter group holding of 67.22%.
Reliance Capital promoter group firm AAA Enterprises Pvt Ltd has revoked 71.20 lakh shares reducing their pledged shares to 1.13% out of the total promoter group holding of 53.49%.
Reliance Infra promoter group AAA Project Ventures has also got 2.87 crore shares released, the filing stated.
“The shares pledged by the promoter group have reduced to 3.8%, out of the total promoter group holding of 37.75%,” the filing by Reliance Infra added.
Other ADA group firms, Reliance Power and Reliance Natural Resources’ (RNRL), shares have not been pledged by promoters.
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First Published: Tue, Sep 15 2009. 03 52 PM IST