Markets

Hotel Leela pledges 18.56% stake with lenders

PTI New Delhi | Updated on May 28, 2012

Hotel Leelaventure Ltd on Monday said a promoter group firm, Leela Lace Holdings Pvt Ltd has pledged shares aggregating to 18.56 per cent stake in it to State Bank of India (SBI) and Bank of Baroda (BOB).

In a filing to the BSE, the company said Leela Lace Holdings Pvt Ltd (LLH) has pledged 4.9 crore shares with the SBI accounting for 12.63 per cent of the total share capital of Hotel Leelaventure on May 19, 2012.

On the same day, (LLH) also pledged 2.3 crore shares to BOB accounting for 5.93 per cent of total share capital of the hospitality firm.

LLH holds over 18.86 crore shares representing 48.64 per cent of Hotel Leelaventure and it has pledged over 16.35 crore shares representing 42.18 per cent paid up capital as on May 22, 2012.

Hotel Leela has been undergoing a corporate debt restructuring process. It is reported to have piled up nearly Rs 4,000 crore in long term and short debts.

Hotel Leelaventure’s scrip closed at Rs 31.85 per share, up 3.41 per cent from the previous close on the BSE.

Published on May 28, 2012

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