Promoters of Ispat Ind. pledge 29.98% stake

Ispat Industries, an integrated steel manufacturer has revealed in a statement on the stockexchange as per Securities Exchange Board of India regulations that the promoters of the company have pledged 29.98% stake in the company for an undisclosed amount amounting 336.5 million shares.

Ispat Steel Holdings has pledged over 154,3 million shares representing 12.63% of the total equity, Goldline Tracom has pledged over 50 million shares representing 4.56% stake and Kartik Credit has pledged over 280 million shares representing 2.33% stake of the company. Apart from this 12 promoters have pledged over 10.46% stake of the company.

Shares of the company declined Rs 0.06, or 0.53%, to settle at Rs 11.23. The total volume of shares traded was 4,420,400.00 at the BSE (Wednesday).