Leading retail group Shopper's Stop today said seven of its promoters have pledged 59.50 per cent stake in the company with financial institutions and lenders.
The seven promoters -- Casa Maria Properties, Raghukool Estate Development, Cape trading, K Raheja Corp, Capstan Trading, Anbee Constructions and Palm Shelter Estate Development -- have pledged over 2.07 crore shares amounting to 59.50 per cent stake in the company with lenders, Shopper's Stop said in a disclosure to the National Stock Exchange.
The percentage of shares pledged to the total number of shares held by them amounts to 96.07 per cent, the filing added.
Calculated on the basis of yesterday's closing price the transaction would amount to a deal value of Rs 182.40 crore.
This disclosure comes after market regulator Sebi mandated that promoters of listed firms disclose the amount of shares pledged with financial institutions.
For the quarter ended December 31, 2008, the promoters held 2,32,36,898 shares totalling to 66.65 per cent stake in the company.