Ashok Leyland promoters release pledged shares from HSBC

After release, Hinduja Automotive has 4.93% shares encumbered

Hinduja Automotive Ltd, promoter of commercial vehicle major Ashok Leyland, has reduced its encumbered shares from 16.66% of its total shareholding of 50.38%, to 4.93%, releasing over 33 crore shares from HSBC.

According to a filing with the exchanges, the proimoter firm has released 26,40,00,000 equity shares from HSBC om February 19, 2015, which accounts to 9.28% of the total share capital.

The encumbered shares before the release was 16.66% of the total share capital. Post event encumbered shares were 7.38% of the total share capital.

In another filing, it further informed that the promoter firm has released another 6,99,04,064 shares from HSBC on March 31, 2015. Post release of the shares, the company has around 14,02,00,140 equity shares encumbered, which around 4.93% of the total share capital.

The share price of Ashok Leyland was around Rs 70 on February 19 and Rs 73.55 on March 31, 2015.

The promoter holding of Hinduja Automotive Ltd, according to the filing, is 1,43,38,47,039 equity shares, which is 50.38% of the total share capital.