The shares amounting to 0.71 per cent stake in UBL were invoked on September 15, the company said in a BSE filing.
Based on that day's closing price of Rs 821.10 apiece, the UBL shares are worth Rs 156 crore.
McDowell Holdings Ltd had 81,22,344 shares of UBL which accounted for 3.07 per cent of the total shareholding of the company.
It had pledged 64,51,000 shares amounting to 2.44 per cent of UBL's share capital.
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