In a statement to the stock exchanges, Hindalco Industries and MRF have clarified that their promoters have not pledged any shares.
In Hindalco, the promoters had pledged some shares, but the same were subsequently released. These shares were pledged by two promoter companies by the name of Turquise Investment & Finance (15.2 million shares of 99 million shares it holds in Hindalco) and Trapti Trading & Investment (16.9 million shares of the 93.06 million shares it holds in Hindalco.
The promoters hold 613 million shares in Hindalco. Kumar Mangalam Birla holds 865,740 shares in Hindalco while his mother Rajashree Birla holds 612,470 shares in the company, Hindalco said in the statement.
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