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Shares of Siti Networks may remain under pressure following a financier creating the pledge of shares by its promoters. RattanIndia Finance has picked up 10.08 crore shares (11.57 per cent stake) by creation of pledged shares.
According to data with the stock exchanges, 72.76 per cent stake or 46.60 crore shares of the company held by its promoters (as of December 2017) have been pledged with financiers. Promoters hold 73.45 per cent stake in Siti Networks.
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