The pledged shares are released bcoz the loans are repaid by the promoters.
Please reread hazariwalapu ‘s and my post on this issue, it will give you some clarity . It has played out the same way. The promoters sold their unpledged shares – 9.5% of total outstanding shares . At a price of Rs 200.5/share via bulk deal . They used this money to repay the loans to the lenders. The lenders have released or given back the shares to the promoters.
Now the promoter holding is at 19-20.5% . The coming q3 shareholding pattern disclosure will confirm this.
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