Promoter group shares pledged with lenders released, says HFCL

Domestic telecom gear maker HFCL on Tuesday said all promoter group shares pledged with various lenders have been released.

Promoters jointly hold 41.89 per cent stake in the company.

"We are pleased to inform all our stakeholders that an aggregate of 6,03,87,187 equity shares, being 100 per cent, of the total pledged shares out of the promoters' shareholding in the paid-up equity shares capital of HFCL, have been released," the company said in a BSE filing.

The company said that the pledges were made in the favour of various lenders as a collateral security for the credit facilities availed by HFCL.

According to the closing price of HFCL, the holding of promoters is about Rs 454.41 crore.

HFCL shares closed at Rs 75.25 apiece at BSE.

"No equity share held by any of the promoters in HFCL is pledged as on date of this announcement," the company said.