One of the promoters of wind power major, Suzlon Energy, has revoked 4 million reducing the total shares pledged by the company's promoters to 24.27 per cent.
Brij J Tanti, a promoter of the company, has revoked 4 million shares representing 0.26 per cent stake, on August 21, Suzlon Energy said in a disclosure to the National Stock Exchange (NSE) today.
"As informed by the promoters, there has been the release of pledge over 40 lakh shares representing approximately 0.26 per cent of the paid-up capital of the company...The total shares pledged by promoters or persons forming part of the promoter group of the company after such release stands reduced at 24.27 per cent," the disclosure said.
Post the release, total shares pledged by Brij J Tanti stand at 1.22 per cent in the company. At the end of June quarter, Brij J Tanti held a 4.03 per cent stake in Suzlon.
Shares of Suzlon Energy were trading at Rs 104, up 1.17 per cent in morning trade on the NSE.