Home / Companies / R-Power pledges 6.68% stake with IDBI Trusteeship Services

Anil Ambani-led Reliance group has pledged 6.68% of the total outstanding share capital of its power generation arm Reliance Power Ltd (R-Power) to IDBI Trusteeship Services Ltd, the company told stock exchanges on Friday.

Most of the 187.50 million shares that have been pledged have been contributed by Reliance Infrastructure Ltd, AAA Project Ventures Pvt. Ltd, AAA International Capital Pvt. Ltd, and Reliance Enterprises and Ventures Pvt. Ltd.

All these entities have pledged their entire holdings in R-Power.

The total value of the pledged shares, based on Friday’s closing price of R-Power’s stock on the BSE, stands at 120.93 crore.

R-Power’s shares ended at Rs64.50 per share on the BSE on Friday, up 0.62%. The bourse’s benchmark index, Sensex, closed 0.06% higher at 21,753.75 points.

R-Power has sued HT Media Ltd, publisher of Mint, in the Bombay high court over a 12 May 2010 front-page story in Mint that it disputed. HT Media is contesting the case.

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