Lenders invoke 10.19 cr pledged shares of Reliance Power

PTI New Delhi | Updated on December 03, 2019 Published on December 03, 2019

After the invocation of the shares, Reliance Infrastructure’s holding has come down to 22.34 per cent. File Photo   -  The Hindu

Lenders invoked 10.19 crore shares of Reliance Power that were pledged by promoter entity Reliance Infrastructure, according to a regulatory filing. The total market value of these 10.19 crore shares at Rs 3.30 per share on the BSE works out to be Rs 33.62 crore. The shares have a face value of Rs 10 each.

Reliance Infrastructure, which is another Group firm, had encumbered shares in favour of Axis Bank, Reliance Power said in a BSE filing.

After the invocation of these 10.19 crore share, which constitute 3.63 per cent of share capital, Reliance Infrastructure’s holding has come down to 22.34 per cent. Before invocation of these shares, Reliance Infrastructure was holding 25.97 per cent of share capital in Reliance Power.

At 3.15 pm, the stocks of Reliance Infra were trading 4.93 per cent lower at ₹24.10 and the scrips of Reliance Power were trading 3.79 per cent lower at ₹3.30.

Published on December 03, 2019
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