RelCap promoter pledges 4.03%; no pledging in RelPower, RNRL

13 Feb 2009, 1725 hrs IST, PTI

MUMBAI: Anil Ambani-led Reliance Capital on Friday said one of its promoters has pledged 4.03 per cent stake in the company with lenders.

In a disclosure to the Bombay Stock Exchange, Reliance Capital said its promoter AAA Enterprises has pledged 98.93 lakh shares representing 4.03 per cent stake in the firm.

As of December quarter, the promoters held 53.49 per cent in Reliance Capital, wherein AAA Enterprises held a 51.45 per cent, as per the information on the BSE website.

Calculated on the basis of today's market price of Reliance Capital, the pledging of shares may have fetched an amount of Rs 426.69 crore to the promoter.

Meanwhile, in separate regulatory filings to the stock exchanges today, two other ADAG firms -- Reliance Power and Reliance Natural Resources -- said none of its promoters has pledged any share with the lenders.

"The promoter group has not pledged any share of the company out of a total promoter holding of 84.78 per cent," Reliance Power said.

The disclosure follows market regulator SEBI's directive, which mandates promoters of listed companies to disclose their details of pledged shares in the wake of Satyam fiasco.

Shares of RelCap closed at Rs 431.30, up 3.43 per cent, while RelPower was up five per cent at Rs 108.20. RNRL rose 1.25 per cent to Rs 48.75 on the BSE.