Sugar-maker Bajaj Hindusthan today announced that it pledged a 9.6 per cent stake to IL&FS Trust Company and Kotak Mahindra Prime Ltd at the end of last month.
In two separate filings to the stock exchanges, Bajaj Hindusthan said it has pledged a 8.47 per cent stake to IL&FS Trust Company and 1.13 per cent to Kotak Mahindra Prime Ltd.
Bajaj has pledged 1.62 crore shares to IL&FS Trust Company. Kotak Mahindra Prime Ltd already holds a 4.6 per cent stake in the company. With the acquisition of 1.08 crore shares, its stake in Bajaj Hindusthan has gone up to 5.73 per cent.
While the shares were offered to IL&FS Trust Company on November 24, Kotak Mahindra Prime Ltd acquired the shares on November 27.
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