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| Three ADAG cos' promoters revoke Rs 7,500 cr pledged shares |
| Press Trust of India / Mumbai Sep 15, 2009, 15:51 IST |
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Three Anil Dhirubhai Ambani Group (ADAG) companies — Reliance Communications, Reliance Capital and Reliance Infrastructure — have revoked pledged shares worth Rs 7,500 crore from lenders.
The promoters of the three firms have got around 14.90 crore shares released which had been pledged to lenders, according to disclosures made by the firms on the Bombay Stock Exchange.
"Promoter group has reduced shares pledged by them earlier by 11.32 crore shares, constituting 5.48 per cent of outstanding capital of the company," RCom said in the filing.
The shares pledged by RCom's promoter group firm AAA Communication have come down to 7.71 per cent, out of the total promoter group holding of 67.22 per cent.
Reliance Capital promoter group firm AAA Enterprises has revoked 71.20 lakh shares reducing their pledged shares to 1.13 per cent out of the total promoter group holding of 53.49 per cent.
Reliance Infra promoter group AAA Project Ventures has also got 2.87 crore shares released, the filing stated.
"The shares pledged by the promoter group have reduced to 3.8 per cent, out of the total promoter group holding of 37.75 per cent," the filing by Reliance Infra added.
Other ADA group firms, Reliance Power and Reliance Natural Resources' (RNRL), shares have not been pledged by promoters.
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