Sintex promoter pledges 15% stake

Plastic products maker Sintex Industries today said one of its promoters has pledged 2.03 crore shares representing 14.90 per cent stake in the company.

In a disclosure to the National Stock Exchange, Sintex said that BVM Finance, a promoter of the company, has pledged 2.03 crore shares representing 14.90 per cent stake in the firm.

The promoter firm has pledged its 34 lakh shares on February 6, 2009, whereas till January 28, 2009, it had already pledged 1.69 crore equities, it added.

BVM Finance holds 22.46 per cent stake in the company under promoter group category. The number of pledged shares represent 66.35 per cent stake of BVM Finance in Sintex.

 

Shares of Sintex Industries today settled at Rs 114.05, up 3.68 per cent on the NSE.