Integrated oilfield services provider Great Offshore today said two of its promoters have pledged 14.88 per cent stake of the company with banks and other institutions.
In a filing to the Bombay Stock Exchange, the company said that two of its promoters have pledged over 55.27 lakh shares representing 14.88 per cent of the company.
Delta Housing has pledged its entire 38.23 lakh shares representing 10.29 per cent stake in the company and Maltar Trading & Investment has pledged 4.59 per cent stake that is 17.03 lakh shares of the company.
The disclosure of pledged shares by Great Offshore 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.
Shares of Great Offshore closed at Rs 242.90, down 4.89 per cent on the BSE.
