Country's largest private lender ICICI Bank has acquired 29.3% stake in telecom network services firm GTL after taking over 28.5 million shares pledged by the promoters.
One of the promoter group firm of GTL, Global Holding Corporation, had pledged 28.5 million shares, representing 29.3% stake, shares with ICICI Bank, GTL informed the Bombay Stock Exchange.
On July 26, ICICI Bank invoked the full 29.3% shares of the telecom infrastructure provider, the filing added.
As on March 31, 2011, Global Holding Corporation had held 52.18% stake, or 50.75 million shares, in GTL Ltd.
Shares of GTL Ltd today settled at Rs 74.85 on the BSE, up 9.75% from the previous close.
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