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| ADAG firms' shares released from pledge |
| Press Trust of India / Mumbai Oct 23, 2009, 17:13 IST |
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Anil Dhirubhai Ambani Group firms Reliance Communications, Reliance Capital and Reliance Infrastructure today said their respective promoters have revoked all the shares pledged with lenders.
According to the disclosures made by the three firms to the Bombay Stock Exchange, no pledge now exists on promoter holdings of the three firms.
"The promoter group has revoked pledge on 2.7 million equity shares (constituting 1.3 per cent of the outstanding capital of the company)," Reliance Capital said in a filing to BSE.
Consequently, none of the shares of Reliance Capital held by the promoter group (total holding of 53.49 per cent) are under a pledge, the filing added.
RCom's promoter group AAA Communications has revoked the pledge on 19.71 crore shares constituting 9.55 per cent stake of the outstanding capital of the company.
Following the release from pledge, none of the RCom shares held by the promoter group (67.29 per cent) are under pledge, the company said in the filing.
Similarly, Reliance Infra's promoter group AAA Project Ventures also secured release of 3.8 per cent or 8.5 million shares pledged by it.
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