Software solution provider Spanco today said one of its promoter Kapil Puri has pledged 9.69 per cent of the company with an undisclosed institution.
In a filing to the Bombay Stock Exchange, the company said Puri has pledged 20 lakh shares representing 9.69 per cent of the company with an undisclosed entity.
The company has also not given the financial details of the transition.
The disclosure of pledged shares by Spanco comes following the market regulator Sebi asking promoters of the listed companies to disclose the amount of shares pledged with lenders.
The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares - whose prices he had inflated by falsifying profits.