Unitech has soared 7% at Rs 46 in opening trades on reports that the promoters repaid the entire Rs 250 crore borrowed from a clutch of investors by pledging their shares a year ago.
The promoters had raised Rs 250 crore from high net-worth individuals (HNIs) last year through the issue of non-convertible debentures and had pledged shares in the country's second largest realty firm to raise the funds.
“The total outstanding amount in lieu of the pledged shares on January 28 was Rs 178 crore, which the promoters were required to pay by May this year,” the newspaper report suggested.
The repayment was done 17 days ahead of the deadline given by the Delhi High Court, the report added.
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