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Promotor releases pledge on 2.04 crore Adani Port equity shares

According to a separate filing, other promoters of APSEZ Adani Tradeline LLP, holding 6.80 per cent in the company has pledged 50,000 additional equity shares of the company in favour of Axis Bank

twitter-logoPTI | April 4, 2020 | Updated 09:00 IST
Promotor releases pledge on 2.04 crore Adani Port equity shares
Gautam S Adani

Adani Ports and Special Economic Zone (APSEZ) on Friday said its promoter SB Adani Family Trust has released pledge on 2.04 crore equity shares held in the company comprising its 1 per cent holding.The promoter family trust holds 39.34 per cent in APSEZ.

The total encumbered holding of the family trust in APSEZ has come down from 35.62 per cent to 34.62 per cent after the transaction, the companies said in a regulatory filing to the BSE.

The released shares were pledged in favour of Kotak Mahindra Prime, Hero Fincorp, Aditya Birla Sunlife Mutual Fund and Tata Capital Financial Services, and were held in the name of Gautam S Adani and Rajesh S Adani on behalf of the family trust.

According to a separate filing, the other promoters of APSEZ Adani Tradeline LLP, holding 6.80 per cent in the company has pledged 50,000 additional equity shares of the company in favour of Axis Bank.

The total encumbered holding of Adani Tradeline LLP stands at 1.71 per cent of APSEZ's share capital.

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