IDBI Trusteeship Services Releases 12.5 Lakh Pledged Shares Of Max Financial
Money & Banking
PTI
New Delhi |
Updated on
July 07, 2020
Published on
July 07, 2020
IDBI Trusteeship Services Ltd (ITSL) has released 12.5 lakh pledged shares of Max Financial Services Ltd (MFSL), according to a regulatory filing.
“12,50,000 shares of MFSL were released by the Trustee to the promoter group on the instructions of the lender on account of release event in terms of the loan agreement, resulting in reduction in the number of pledged shares,” MFSL said in a regulatory filing.
Following the release of 12.5 lakh shares, or a 0.47 per equity stake, the number of pledged shares has come down to 8.08 per cent or 2.17 crore shares (2,17,87,626) from 8.55 per cent earlier, according to a separate filing.
The shares were released on the instruction of a lender on July 2 by ITSL, which is acting as a security trustee for various NCDs, the trustee informed the bourses.
ITSL is acting as security trustee for various NCDs, wherein the shares of the target company (MFSL) have been pledged pursuant to respective share pledge agreements.
Max Financial Services shares closed 0.80 per cent up at ₹559.60 apiece on the BSE.
Published on
July 07, 2020
PTI
New Delhi |
Updated on
IDBI Trusteeship Services Ltd (ITSL) has released 12.5 lakh pledged shares of Max Financial Services Ltd (MFSL), according to a regulatory filing.
“12,50,000 shares of MFSL were released by the Trustee to the promoter group on the instructions of the lender on account of release event in terms of the loan agreement, resulting in reduction in the number of pledged shares,” MFSL said in a regulatory filing.
Following the release of 12.5 lakh shares, or a 0.47 per equity stake, the number of pledged shares has come down to 8.08 per cent or 2.17 crore shares (2,17,87,626) from 8.55 per cent earlier, according to a separate filing.
The shares were released on the instruction of a lender on July 2 by ITSL, which is acting as a security trustee for various NCDs, the trustee informed the bourses.
ITSL is acting as security trustee for various NCDs, wherein the shares of the target company (MFSL) have been pledged pursuant to respective share pledge agreements.
Max Financial Services shares closed 0.80 per cent up at ₹559.60 apiece on the BSE.
Published on
USAA, NFL Extend Long-standing Partnership
USAA to continue providing exceptional Salute to Service NFL experiences to the military community Read more
Nearly Half Of Gen Z Doesnt Know What Affects Their Credit Score, According To New USAA Report
Study Reveals Gaps in Young Adults’ Credit Knowledge and Optimism for Financial Growth Read more
USAA Stands With Our Communities To Provide Support Amid Devastating Texas Floods
Association commits $500,000 and activates employee volunteers to support Read more
USAA To Expand Workforce In Chesapeake To Support Growing Membership
Company adding more than 500 employees in the area over the next two years Read more
USAA Advocates For Safe Driving Habits During 100 Deadliest Days Of Summer For Teens
New Safe Driving Simulator virtual experience helps drivers identify bad habits ahead of summer travels Read more
USAAs Poppy Wall Of Honor® Returns To National Mall For Sixth Year To Honor And Remember Fallen Service Members
Enhanced experience provides immersive storytelling to illustrate all that was given in service to our country Read more