Shree Ram Mills today said one of its main promoters has pledged 33 per cent stake of the company for an undisclosed amount.
In a filing to the Bombay Stock Exchange, the company said that Akhilesh Developers, a promoter of Shree Ram, has pledged 6,812,830 shares, or 33 per cent stake, of the company.
As on quarter ended December 31, Akhilesh Developers had 90,71,713 shares, or 43.96 per cent stake, in the company.
Shares of Shree Ram Mills hits upper circuit to halt trading at Rs 52.60, up 4.99 per cent on the BSE.
