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MUMBAI: Real estate developer, Marg Ltd, said on Monday two of its promoters have pledged nearly 13 per cent stake in the company as of March 31, 2009.

Two of company's promoters GRK Reddy and Marg Capital Markets have pledged in total 3,273,000 shares, aggregating to 12.78 per cent stake in the company, as of March 31, Marg Ltd said in a filing to the Bombay Stock Exchange.

GRK Reddy has pledged 2,198,000 shares representing 8.58 per cent stake and another promoter Marg Capital Markets has pledged 1,075,000 shares representing 4.20 per cent stake in the company.

Shares of Marg were trading at Rs 56.90, up 4.98 per cent on the BSE.

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