IRB Infra's promoter unpledges shares

Shares were releases from their pledge with Kotak Mahindra Prime

Highway developer IRB Infrastructure today said that its Chairman Virendra Mhaiskar unpledged 20 million shares, which account to six% stake in the company.

“The holding of promoters' was at was 60.48% in the company as on 30th September, 2013. Around 14.2% holding was pledged,” the company said in a statement.

These shares are held by both Virendra Mhaikar and his wife Deepali Mhaiskar. According to its communication to the stock exchanges, the shares were release from their pledge with Kotak Mahindra Prime.

The company's stock traded flat in today's trade, closing at Rs 97 as per data available on the Bombay Stock Exchange.