Suzlon's pledged stake rises to 27.04 pc | business | Hindustan Times
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Suzlon's pledged stake rises to 27.04 pc

Wind power major Suzlon Energy on Thursday said one of its promoter has pledged an additional 84 lakh shares with lenders taking the total stake of pledged stocks to a 27.04 per cent.

business Updated: Mar 26, 2009 20:26 IST

Wind power major Suzlon Energy on Thursday said one of its promoter has pledged an additional 84 lakh shares with lenders taking the total stake of pledged stocks to a 27.04 per cent.

In a disclosure to the Bombay Stock Exchange, Suzlon Energy said its promoter Brij J Tanti through Jitendra R Tanti has pledged a fresh 84 lakh stocks on March 9. The additional pledge of 84 lakh shares, representing approximately 0.56 per cent of the paid-up capital of the company, is to offer additional security to various lenders for loans availed of Rs 500 crore, Suzlon said.

Post this transaction, the total number of pledged shares increased to more than 6 crore representing a total of 27.04 per cent stake in the company.

At the end of December quarter, Brij J Tanti Through F/g Jitendra R Tanti held a 4.03 per cent stake in the company, as per the data available with the BSE. Shares of Suzlon Energy on Thursday closed at Rs 44.65, down 0.56 per cent on the BSE.