IL&FS Trust Company (ITCL) today said it has acquired over 2.65 crore shares in Max India equivalent to 9.97 per cent holding as the latter has pledged shares in it.
"2,65,70,048 equity shares of Max India Limited have been pledged with IL&FS Trust Company in capacity as a debenture trustee to secure the non-convertible debentures issued by Pier 114 Imports Private," IL&FS Trust Company said in a filing to BSE.
The said acquisition took place on September 1, it added.
IL&FS further said it has acquired the 9.97 per cent holding in Max India by way of pledge.
The Max India stock closed 3.52 per cent up at Rs 508.80 on BSE today.
