Lanco Infratech, the flagship company of Lanco Group, today said two of its promoters have pledged 8.52 per cent stake of the company.
In a disclosure to the Bombay Stock Exchange, the company said that two of its promoters -- Prince Stone Investments and the Lanco Group -- have pledged over 1.89 crore shares, representing 8.52 per cent stake of the company.
Prince Stone Investments has pledged 1.52 crore shares, representing 6.85 per cent stake, and the Lanco Group has pledged 1.66 per cent stake, or 37.12 lakh shares.
The disclosure of pledged shares by Lanco Infratech comes after market regulator Sebi asked promoters of 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 Lanco Infratech were trading at Rs 109.25, down 2.06 per cent on the BSE.
