Promoters of McLeod Russel pledge nearly all of their shareholding

In separate regulatory filings with the BSE, the company said on April 30, another two promoter group companies pledged their shares

The promoters of McLeod Russel, the tea-growing major which is a part of the Brij Mohan Khaitan-led group, has increased their pledge to nearly all of their shareholding in the firm. Of the total promoter holding of 38.74 per cent, the promoters have increased their pledge to 38.16 per cent. Only 0.58 per cent of their stakes now remains unpledged.

Moreover, the promoters’ holding in the firm declined to 38.74 per cent after Aditya Birla Finance (ABFL) sold 2,142,339 shares at the market price to the public. These shares were pledged to ABFL by Woodside Parks, a promoter group company, which