Avantha pledges 20.18% stake in Ballarpur

Avantha Holdings, a promoter entity of Ballarpur Industries, has pledged more than 13.2 crore shares or 20.18 per cent stake in the company to avail a term loan facility.
"13,22,56,094 equity shares of Ballarpur Industries Ltd held by Avantha Holdings Ltd have been pledged with Vistra ITCL (formerly known as IL&FS Trust Company) on October 6 in the capacity as Security Trustee for a term loan facility availed by Avantha Holdings Ltd," Ballarpur Industries said in a BSE filing.
As a per the data available on the stock exchanges, as on June 30, Avantha Holdings Ltd held 32.26 crore shares or 49.23 per cent stake in the company.

Shares of Ballarpur Industries closed at Rs 14.70, up 4.78 per cent on BSE.