FMCG major Godrej Consumer Products today said one of its promoter Godrej Industries have pledged 7.58 per cent stake of the company for an undisclosed amount.
In a disclosure to the Bombay Stock Exchange, the company said that Godrej Industries promoters have pledged 1,95,00,000 shares representing 7.58 per cent stake of the company.
This move comes on the heels of market regulator Sebi asking promoters of the listed companies to disclose the amount of shares pledged with lenders.
The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares - whose prices he had inflated by falsifying profits.
Shares of Godrej Consumer Products settled at Rs 130, down 1.52 per cent on the BSE.
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