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HDIL promoters revoke all pledged shares

The shares were pledged with IL&FS Trust Company

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BS Reporter Mumbai
Last Updated : Sep 29 2014 | 6:08 PM IST

Promoters of property developer Housing Development and Infrastructure Limited (HDIL) have revoked all shares earlier pledged with IL&FS Trust Company. The company said the entire promoter holding in the company is non-pledged.

IL&FS Trust Company released 75.4 million shares of promoters, including chairman Rakesh Kumar Wadhawan, today. The released shares in the latest tranche comprises 51.89% of the total shares pledged by promoter group.

Earlier on July 4, 2014, IL&FS Trust Company had released 70 million equity shares, comprising 48.11% of the total pledged shares of promoter group.

 

 

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First Published: Sep 29 2014 | 5:44 PM IST

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