Unitech today said its promoter Harsil Projects Private Ltd has pledged its shares to IL&FS Trust Company to raise around Rs 570 crore.
The company has pledged 153.08 million shares representing 5.85% stake to IL&FS Trust Company on March 18, 2011. On the basis of the closing price of the company's shares on the NSE on March 18, of Rs 37.04, the value of the pledge stake is around Rs 567 crore.
“A total 153.07 million equity shares of Unitech have been pledged with IL&FS Trust Company in capacity as Debenture Trustee for debentures issued by Harsil Projects Pvt Ltd,” a real estate company said in a filing to the National Stock Exchange (NSE).
At 12.26 pm the shares of Unitech were trading 1.5% higher at Rs 41.05 on the NSE.
