RCom promoters pledge 3.8 cr share worth over Rs 190 cr

PTI New Delhi | Updated on January 17, 2018 Published on July 09, 2016

Promoters of Reliance Communications have pledged 3.8 crore shares at an estimated value of Rs 190 crore before private banks.

As per a filing by Axis Trustee, three crore shares of RCom pledged in its favour on July 5 are in connection with loan facilities availed by RCom’s subsidiaries —— Reliance Big Entertainment , Zapak Digital Entertainment and Reliance Infra Consultancy Services and for NCDs issued by Reliance Communications.

The RCom promoter firm Reliance Wind Turbine Installators Industries Private Limited has pledged three crore RCom shares with HDFC Bank through Axis Trustee on July 5.

Referring to the loan availed by RCom subsidiaries, Axis Trustee today said, “In this connection, we refer to additional pledge of 30,000,000 shares of Reliance Communications Limited.”

However, the reason for pledging 80 lakh shares by Reliance Communications Enterprises before IndusInd Bank could not be ascertained. P

Published on July 09, 2016
This article is closed for comments.
Please Email the Editor