Wockhardt's two promoters revoke 53 lakh shares

Drug maker Wockhardt's two promoter group firms, including Khorakiwala Holdings and Investments, have revoked 53 lakh shares pledged with the lenders, reducing their combined stake of pledged shares to 52.89 per cent.

In a regulatory disclosure to the Bombay Stock Exchange, Wockhardt today said its promoter Khorakiwala Holdings and Investments has revoked 11.47 lakh shares on June 22, after which the entity's pledged stake in the drug company stands at 52.89 per cent.

Meanwhile, another promoter Dartmour Holdings also revoked 41.53 lakh shares on the same day. Post transaction, Dartmour Holdings' pledged stake in the company now stands nil.

At the end of March quarter, Khorakiwala Holdings & Investments held a 63.70 per cent stake in the pharmaceuticals firm, whereas Dartmour Holdings held a 6.24 per cent stake in the company.

Shares of Wockhardt were trading at Rs 126.30, up 6 per cent in the afternoon trade on the BSE.