HDIL Promoters Revoke Pledged Shares in IL&FS Trust
Mumbai: Realty player Housing Development and Infrastructure Ltd (HDIL) on Monday said its promoters have revoked all shares pledged with IL&FS Trust Company.
"Promoters of HDIL have revoked all shares earlier pledged with IL&FS Trust Company and now the entire 100 per cent shares in the promoters category is non-pledged," a company release in Mumbai said.
IL&FS Trust has released over 7.54 crore equity shares of promoters, including those of Rakesh Kumar Wadhawan, it said.
The released shares in the latest tranche comprise 51.89 per cent of the total shares pledged by promoter group.
On July 4, IL&FS Trust had released 7 crore equity shares, comprising 48.11 per cent of the total pledged shares of the promoter group.
With the latest release of pledged shares by IL&FS Trust, the total number of pledged shares by HDIL promoters at present stands nil, the release said.
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