Bajaj Finserv promoters pledge 4.41% stake

Bajaj Finserv today said three of its promoters have pledged 4.41 per cent stake in the company with lenders.

In a disclosure to the Bombay Stock Exchange, Bajaj Finserv said its three promoters -- Jamnalal Sons, Bachhraj Fcatories and Mukand Global Finance -- have pledged 63.84 lakh shares representing 4.41 per cent stake in the company.

While Jamnalal Sons has pledged 62.40 lakh shares representing 4.31 per cent in the company, Bachhraj Factories has pledged 1.44 lakh shares or 0.10 per cent and Mukand Global Finance has pledged its entire holding of 850 shares in the company, the filing added.

As of December quarter, the promoters held 54.98 per cent stake in the company. The pledged shares totaling 63.84 lakh represents 8.03 per cent of the three promoters' holding in the company, it added.

Calculated on the basis of the closing share price of Bajaj Finserv on BSE, the promoters would have raised nearly Rs 93 crore.

Shares of Bajaj Finserv closed at Rs 227.85, up 0.04 per cent on the BSE.