RCom promoters pledge 2.41% shares with financial institution
According to a BSE filing, Reliance Communications promoters have pledged an additional 2.41% shares of the company with a financial institution
New Delhi: Reliance Communications promoters have pledged an additional 2.41% shares of the company with a financial institution, according to a regulatory filing.
According to a BSE filing, Reliance Wind Turbine Installators Industries Pvt Ltd — a firm acting in concert with promoter group — pledged 6 crore more shares or 2.41% of share capital in favour IDBI Trusteeship Services Ltd. Reliance Wind Turbine held 12.05% stake in RCom.
“The trustee holds this security on behalf of holders of NCDs,” it added.
So far, Reliance Communications Enterprises Pvt Ltd had pledged 23.30% out of its 29.05% stake in the company to financial institutions.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.