Promoters of Ansal Properties release 12.3 mn pledged shares

As a result, the shares pledged by promoters have come down to 59.18% as against 76.45% earlier

Realty firm Ansal Properties and Infrastructure today said its promoters have released 1.23 crore shares pledged with financial institutions and banks.

As a result, the shares pledged by promoters have come down to 59.18% out of their total stake in the company as against 76.45% earlier.

Promoters held 46.55% stake in Ansal Properties and Infrastructure Ltd as on June 30, 2012.

"The company has successfully got release of 1,23,01,480 equity shares of the promoter pledged with various financial institutions/banks during October 2012," the company said in a statement.

This has resulted in a decrease by 17% in the shares pledged by promoters, it added.