Shree Renuka Sugars today said one of its promoter had pledged an additional 28.5 million shares of the company.
The company in a filing to the Bombay Stock Exchange (BSE) said its promoter, Khandepar Investments had on June 28 pledged 2,85,00,000 shares of the company.
The total number of shares of Renuka Sugars that are held by Khandepar Investments are 7,54,00,000, it said.
Based on the closing share price of the company on June 28, the additionally pledged shares could be worth Rs 174.56 crore.
After the recent pledging, total number of shares of the company that have been pledged by Khandepar Investments are 5,25,00,000 or 7.82% of the total outstanding shares of Renuka Sugars, it added.
The total number of outstanding shares of the company are 67,13,07,250, it said.
The Belgaum headquartered company has seven sugar mills in India with a crushing capacity of 35,000 tonnes of canes per day and two sugar refineries with a capacity of 1.7 million tonne per annum.
Shares of Renuka Sugars today closed at Rs 73.45, up by 0.14% from previous close on the BSE.
