Essar Ports' promoters pledge 13.5 mn to YES Bank

Essar Ports today said Essar Projects, a promoter entity, has pledged about 13.5 million  shares to YES Bank Ltd.

"Pledge creation of 13,584,270 equity shares in favour of YES Bank Ltd for and on behalf of Essar Steel India Ltd," Essar Ports said in a filing to the BSE.

Essar Projects had acquired 56.3 million shares from Essar Shipping & Logistics along with existing pledge on 42 million shares, the BSE filing said. Out of the balance14.3 million non-pledged shares, Essar Projects has now created a pledge on 13.5 million shares in favour of YES Bank, it added.

Shares of the Essar Ports closed at Rs 84.20, down 1.12% on the BSE.