Gillette India promoters pledge shares for about Rs 38 cr

Personal care products maker Gillette India today said its promoters have pledged over 2.15 lakh equity shares for a total value estimated to be around Rs 38.37 crore.

In a disclosure to the Bombay Stock Exchange (BSE), the company said, its promoter Saroj Kumar Poddar has pledged 1,39,480 shares on May 19. Also, another promoter Akshay Poddar has pledged all 76,923 shares held by him in the company on the same day.

Based on the closing share price of Rs 1,820 on May 19, SK Poddar's pledged shares is valued at around Rs 25.38 crore, while that of Akshay Poddar is about Rs 13.99 crore aggregating the value of the total pledged shares by them to Rs 38.37 crore.

The company's scrips closed today at Rs 1,820 per share, down 0.31% from the previous close on the BSE.