Operations and business support systems provider Subex today said that two of its promoters have pledged in total 7.2 per cent stake of the company for corporate loan with the country's largest public sector lender State Bank of India (SBI).
In a filing to the Bombay Stock Exchange, the company said that two of its promoters have pledged 25.08 lakh shares representing 7.2 per cent stake of the company with SBI.
Subhash Menon has pledged 9,87,161 shares representing 2.83 per cent of the company with SBI for corporate loan issued to Subex, the filing added.
Further, the company said that another promoter Kivar Holdings has pledged 4.37 per cent stake that is 15,21,200 shares with State Bank of India for corporate loan issued to the company, it added.
