IndusInd Bank sells part of pledged shares of Eveready Industries, McLeod Russel

IndusInd Bank sells part of pledged shares of Eveready Industries, McLeod Russel

NEW DELHI: IndusInd Monetary institution on Tuesday stated it has sold a section of the invoked pledged shares of Eveready Industries and McLeod Russel India.

On Saturday, the bank had stated it has received equity shares of battery maker Eveready Industries India Ltd and tea producer McLeod Russel India Ltd after invocation of pledged shares following a mortgage default.

“We adore to uncover that the bank had the day long previous by, August 10, 2020 sold 32,71,608 equity shares of Eveready Industries India Ltd and 55,00,000 equity shares of McLeod Russel India,” IndusInd Monetary institution stated in a regulatory submitting on Tuesday.

After the sale of shares, the bank as on date holds 24,11,712 equity shares comprising 3.32 per cent paid-up equity capital of Eveready Industries and 23,32,253 equity shares comprising 2.23 per cent paid-up equity capital of Mc-Leod Russel, the non-public sector lender stated.

The bank had received 7.82 per cent stake (56,83,320 shares) in Eveready Industries and about 7.5 per cent stake (78,32,253 shares) in McLeod Russel India.

Williamson Magor and Co Ltd had pledged shares in community companies Eveready Industries and McLeod Russel India with the bank for securing prominent dues of Seajuli Builders and Finance Diminutive.

The bank had invoked the pledge held on the shares for restoration of its dues from Seajuli.

IndusInd Monetary institution stock closed 2.45 per cent elevated at Rs 521.85 apiece on BSE on Tuesday.

McLeod Russel jumped 4.94 per cent to Rs 14.65, while Eveready closed 0.40 per cent down at Rs 148.70.

Leave a Reply

×
×

Cart