Three promoters of Shree Renuka Sugars, the country's leading sugar refiner, have together pledged 14.45 per cent of their shares in the company as a security for loan taken by a subsidiary firm.
In a BSE filing, Renuka Sugars said its three promoters -- Murkumbi Investments, Khandepar Investments and Agri Venture Trading and Investment Pvt Ltd -- have pledged 13.3 crore shares, totalling 14.45 per cent stake.
Murkumbi Investments has pledged 7.01 per cent stake, while Agri Venture Trading and Khandepar Investments have pledged 4.04 per cent and 3.40 per cent stake, respectively.
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The shares were pledged on September 11 as security for loan taken by its subsidiary firm Renuka Energy Resource Holdings FZE, the filing added.
With this, the three promoters have pledged almost their entire stake in the company. Earlier, Murkumbi Investments and Khandepar Investments had pledged 10.76 per cent stake.
The three promoters together hold a 25.23 per cent stake in Shree Renuka Sugars. Of which, Murkumbi Investments has 13.07 per cent stake, Khandepar Investments (8.12 per cent) and Agri Venture Trading and Investment (4.04 per cent).
The company operates 11 mills globally, with a total crushing capacity of 20.7 million tonnes per annum (MTPA) or 94,520 tonnes crushed per day (TCD).
It has seven sugar mills in India with a total crushing capacity of 7.1 MTPA, or 35,000 TCD, and two port-based sugar refineries with expected capacity of 1.7 MTPA.
