Sobha Developers promoter pledges 28.39% stake

Sobha Developers today said one of its promoter -- Shobha Menon -- has pledged 28.39 per cent stake of the company for an undisclosed amount.

In a filing to the Bombay Stock Exchange, the company said that the promoter has pledged over 2.07 crore shares, representing 28.39 per cent stake of the company.

As of December quarter, Sobha Menon holds 4.13 crore shares, representing 56.72 per cent stake.