Vistra ITCL (India) Ltd, formerly IL&FS Trust Company, has released 2 lakh pledged shares of Edelweiss Financial Services.
Two lakh pledged shares, amounting to 2.43 per cent stake, of Edelweiss Financial Services have been released by Vistra in its capacity as a security trustee. These shares were pledged by the company's promoter Rashesh Shah to secure a term loan facility, according to a filing on the BSE.
Following the release, the total amount of encumbered shares came down to 9.90 per cent.
Shah is the Chairman and Chief Executive Officer (CEO) of the Edelweiss Group.
"A partial release of its promoter's pledged shares (pledged with Vistra ITCL (India) Ltd, formerly IL&FS Trust company) has taken place," according to the filing said.
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