Trouble mounted for B M Khaitan group's McLeod Russel India Limited as Aditya Birla Finance Limited has sold shares equivalent to 2.05 per cent of the paid up capital in the open market pledged by promoters.
The lender invoked and sold 21,42,339 equity shares of Rs 5 each in the open market between April 30 and May 3, one of the promoter company -- Woodside Parks Ltd informed the bourses on Thursday.
On May 7, rating of the bulk tea producer McLeod was downgraded with negative outlook.
Woodpark said after such sale, we hold 23,64,462 equity shares representing 2.2636 per cent of the paid up capital of Mcleod.
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