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Promoters lose 4.32% stake in McLeod Russel as ABFL invokes pledged shares

Stake now stands at 38.39%; Woodside Parks, the promoter group's investment wing, loses its entire holding

Illustration by Ajay Mohanty
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Illustration by Ajay Mohanty

Avishek RakshitIshita Ayan Dutt Kolkata
Promoter stake in Brij Mohan Khaitan group company McLeod Russel has come down by 4.32 per cent in the last two months with Aditya Birla Finance (ABFL) invoking the entire part of promoters’ share pledged with it.

As on March 31, 2019, while the promoter group’s stake, including individual promoter shareholders as well as group investment firms, stood at 42.71 per cent, it fell to 38.39 per cent on Tuesday. With ABFL’s move, Woodside Parks, an investment wing of the promoter group, lost its entire shareholding in McLeod. Earlier this month, in the first

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