Pledged Shares - Nov 2011

Pledged Shares - Nov 2011

Pledged Shares List

SENSEX / NIFTY:
==============
COMPANY PLEDGED SHRS % OF PAID-UP LENDER
(IN MLN) EQUITY
.
Jaiprakash Associates 2.27 0.10 N.A.
Kotak Mahindra Bank 0.05 0.01 N.A.
Mahindra & Mahindra 12.20 2.11 N.A.
Sun Pharmaceutical Ind 2.20 0.21 N.A.
Suzlon Energy 600.10 33.76 N.A.
Tata Consultancy Services 222.10 11.35 N.A.
Tata Motors 44.00 8.69 N.A.
Tata Power Co 26.86 11.32 N.A.
.
.

Investment Strategy - No Pledge Companies

Investment Strategy - No Pledge Companies

Top 50 Pledging Promoters

Top 50 Pledging Promoters

Ansal Properties promoters pledge shares

Ansal Properties & Infrastructure Ltd has informed BSE the details of the total no of shares of the Company pledged by the Promoter / Person forming part of Promoter Group with the Bank(s) and Financial Institution(s) on the date of the notification i.e. on January 28, 2009. These shares were pledged to secure the borrowings made by the Company.

(i) the Promoter/s / Person/s forming part of Promoter Group have pledged 1,82,45,000 Equity Shares of the Company with IL & FS to secure borrowings made by the Company constituting 16.07% of total Paid-up Equity Shares of the Company.
(ii) the Promoter/s / Person/s forming part of Promoter Group have pledged 1,43,00,000 Equity Shares of the Company with HDFC Ltd to secure borrowings made by the company, constituting 12.60% of total Paid-up Equity Shares of the Company.
(iii) the Promoter/s / Person/s forming part of Promoter Group have pledged 5,00,000 Equity Shares of the Company with India Bulls Financial Services Ltd to secure borrowings made by the company, constituting 0.44% of total Paid-up Equity Shares of the Company.
(iv) The aggregate of (i), (ii) & (iii) above constitutes 3,30,45,000 Equity Shares pledged by the Promoter/s / Person/s forming part of Promoters Group of the Company as on January 28, 2009. This constitutes 29.114% of total Paid-up Equity Shares of the Company.
(v) The Company has received declarations from all the Promoter/s / Person/s forming part of Promoter Group within 7 working days of date of the referred Notification of SEBI.

Note: As on date the total No. of Equity Shares of the Company is 11,35,01,100 [Fully Paid-up of Rs. 5/-each]

1. Name of the promoter/ person forming part of promoter group - Mrs. Sheetal Ansal
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 3,926,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 3.45%
Bank / Financial Institution with whom these shares were pledged - HDFC Ltd

2. Name of the promoter/ person forming part of promoter group - Mr. Pranav Ansal
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 2,000,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 1.76%
Bank / Financial Institution with whom these shares were pledged - IL & FS

3. Name of the promoter/ person forming part of promoter group - Dr. (Mrs.) Kusum Ansal
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 10,55,900
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 0.93%
Bank / Financial Institution with whom these shares were pledged - IL & FS

As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 64,74,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 5.703%
Bank / Financial Institution with whom these shares were pledged - HDFC Ltd

4. Name of the promoter/ person forming part of promoter group - Apna Ghar Properties Pvt Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 3,800,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 3.35%
Bank / Financial Institution with whom these shares were pledged - IL & FS

As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 1,700,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 1.50%
Bank / Financial Institution with whom these shares were pledged - HDFC Ltd

As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 5,00,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 0.44%
Bank / Financial Institution with whom these shares were pledged - Indiabulls Financial Services Ltd

5. Name of the promoter/ person forming part of promoter group - Amba Bhawani Properties Pvt Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 15,75,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 1.39%
Bank / Financial Institution with whom these shares were pledged - IL & FS

As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 22,00,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 1.94%
Bank / Financial Institution with whom these shares were pledged - HDFC Ltd

6. Name of the promoter/ person forming part of promoter group - Prime Maxi Mall Management Pvt Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 1,622,800
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 1.421%
Bank / Financial Institution with whom these shares were pledged - IL & FS

7. Name of the promoter/ person forming part of promoter group - Chiranjiv Investments Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 5,500,000
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 4.84%
Bank / Financial Institution with whom these shares were pledged - IL & FS

8. Name of the promoter/ person forming part of promoter group - Sithir Housing & Constructions Pvt Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 1,693,200
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 1.491%
Bank / Financial Institution with whom these shares were pledged - IL & FS

9. Name of the promoter/ person forming part of promoter group - New Line Properties & Consultants Pvt Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 905,800
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 0.799%
Bank / Financial Institution with whom these shares were pledged - IL & FS

10. Name of the promoter/ person forming part of promoter group - Delhi Tower & Estates Pvt Ltd
As on the date of notification i.e. on January 28, 2009 the total no of shares pledged - 92,300
% of shares pledged (% to the total no of paid up equity share capital i.e. 11,35,01,100) - 0.082%
Bank / Financial Institution with whom these shares were pledged - IL & FS

Pledged Shares List

Pledged Shares List

Tata promoters need money!

Promoters of three more Tata group companies, including Tata Communications, today disclosed their share pledging details, taking the total amount raised by promoters of the nine firms to nearly Rs 10,000 crore, for meeting the group's long-term fund requirements.

In aggregate, the value of the 123 crore shares pledged by the promoters has been estimated to be about Rs 10,000 crore as per today's closing price of the nine firms -- Tata Communications, Tata Tea, Tata Chemicals, Tata Motors, Tata Coffee, Tata Steel, Tata Power, Tata Teleservices (Mah) and Indian Hotels.

Yesterday, six Tata group firms had revealed their share pledging details.

Meanwhile, the group's holding entity Tata Sons had yesterday said: "It (share pledging) is not a new practice; it has been existing since the age of joint stock companies. It has been done primarily for long-term funding requirements of Tata Sons."

Tata Communications today said two of its promoters, Tata Sons and Pantone Finvest, have pledged three crore shares, representing a 10.53 per cent stake in the company.

Estimated at today's average market price, the shares pledged would have fetched Tata Sons over Rs 1,329.65 crore.

Meanwhile, Tata Tea said its main promoter Tata Sons has pledged 70 lakh shares, representing 11.32 per cent stake in the company with lenders.

Calculated on the basis of the current market price of Tata Tea scrip, the pledging would have fetched the promoters over Rs 389 crore

Also Tata Chemicals earlier today had said three of its promoters -- Tata Tea, Tata Investment Corporation and Tata Sons -- have pledged 4.70 crore shares or 20.02 per cent stake in the company with lenders.

Calculated on the basis of current market price of Tata Chemicals, the promoters would have received over Rs 705 crore from lenders via the share pledge.

Aggregating the total shares pledged by the remaining six Tata Group companies, the promoters have raised about Rs 7,500 crore.

In the bull phase of the market, the Tata Group was on expansion spree and had made significant acquisitions then.

Starting from August 2006, the group had undertaken major acquisitions including a 30 per cent stake in US-based Glaceau (Energy Brands) for USD 677 million, steel maker Corus and British luxury brand Jaguar-Land Rover.

Tata group has 27 listed entities. However, TCS, Tata Sponge Iron, Tata Investment Corporation are among the Tata Group companies which are yet to disclose the promoter share pledging in respective firms.

Bihar Tubes promoters pledge shares

Bihar Tubes Ltd has furnished herein below the disclosure of Shares pledged by Promoters and PACs

1. Name of the Promoter & Person Acting in Concert - Saroj Rani Gupta
No of Shares Pledged - 350,000
Purpose of Pledge - as Securities towards Cash Credit Loans raised from Bank
% of Total Paid Up Capital - 1.724%

2. Name of the Promoter & Person Acting in Concert - Sanjay Gupta
No of Shares Pledged - 196,450
Purpose of Pledge - as Securities towards Cash Credit Loans raised from Bank
% of Total Paid Up Capital - 0.968%

3. Name of the Promoter & Person Acting in Concert - Vinay Gupta
No of Shares Pledged - 21,900
Purpose of Pledge - as Securities towards Cash Credit Loans raised from Bank
% of Total Paid Up Capital - 0.108%

4. Name of the Promoter & Person Acting in Concert - SMT Finance & Investment Ltd
No of Shares Pledged - 18,350
Purpose of Pledge - as Securities towards Cash Credit Loans raised from Bank
% of Total Paid Up Capital - 0.090%

5. Name of the Promoter & Person Acting in Concert - Sameer Gupta
No of Shares Pledged - 13,300
Purpose of Pledge - as Securities towards Cash Credit Loans raised from Bank
% of Total Paid Up Capital - 0.066%

6. Name of the Promoter & Person Acting in Concert - APL Infrastructure Pvt Ltd
No of Shares Pledged - 1651,487
Purpose of Pledge - as Securities towards Cash Credit Loans raised from Bank
% of Total Paid Up Capital - 8.137%

Nijjer Agro Foods promoters pledge shares

Nijjer Agro Foods Ltd has informed BSE that the following shares held by the promoters have been pledged in favour of IDBI Ltd. The pledge was created in December 2004 as a guarantee for specific performance by the Company of one of the conditions of settlement of over-dues and a part of rehabilitation package filed before BIFR.

1. Promoter Name - Satbir Nijjer
- Number of Shares pledged - 9,04,989
- Percentage of issued capital - 8.87%

2. Promoter Name - Wassan Singh Nijjer
- Number of Shares pledged - 1,20,000
- Percentage of issued capital - 1.18%

3. Promoter Name - Gurbaksh Kaur
- Number of Shares pledged - 35,011
- Percentage of issued capital - 0.34%

The shares will be released by IDBI Ltd on Company making allotment of 1060000 shares.

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).

Zandu founders pledge 50.8 pct stake

Zandu Pharmaceutical Works Ltd said on Wednesday its promoters have pledged 409,344 shares or 50.76 percent of its total equity base.

It did not say to whom they were pledged or for what purpose.

Personal care products maker Emami Ltd and its associates hold 70.34 percent stake in Zandu, post the open offer made last year.

Ahead of the news, shares in the company ended 2.35 percent lower at 4,881.50 rupees in the Mumbai market.

Alok Ind promoters pledge 4.15 cr shares

Integrated textile firm Alok Industries today said its 16 promoters have pledged 4.15 crore shares representing 20.16 per cent stake in the company.

In a disclosure to the National Stock Exchange, Alok Industries said Niraj Realtors & Shares, one of the promoters of the company, has pledged 1.29 crore shares representing 6.59 per cent stake.

Similarly, remaining shares have been pledged by 15 other promoters including Dilip B Jiwrajka (2.93 per cent), Grabal Alok Impex (2.74 per cent) and Ashok B Jiwrajka (2.55 per cent).

Shares of Alok Industries today remained unchanged from its previous close at Rs 17.15 on the NSE.

Jindal Steel & Power promoter pledges 1.65% stake

Jindal Steel & Power today said that one of its promoter Sun Investment has pledged 1.65 per cent stake of the company for an undisclosed amount.

In a filing to the Bombay Stock Exchange, the company said that its promoter has pledged over 25.50 lakh shares representing 1.65 per cent stake of the company.

Shares of Jindal Steel & Power settled at Rs 1052.45, down 2.19 per cent on the BSE.

Emami promoters pledge 27.89% stake

Consumer goods major Emami today said that its three promoters Diwakar Viniyog, Suntrack Commerce and Suraj Viniyog have pledged 27.89 per cent stake of the company, for an undisclosed amount.

In a filing to the Bombay Stock Exchange, the company said that three promoters have pledged over 1.73 crore shares representing 27.89 per cent stake.

Diwakar Viniyog has pledged over 1.05 crore shares representing 16.91 per cent stake of the company, the filing added.

Suntrack Commerce has pledged 30 lakh shares representing 4.83 per cent stake of the company and Suraj Viniyog has pledged 38.20 lakh shares representing 6.15 per cent stake of the company, the it added.

Shares of Emami settled at Rs 197.55, down 3.68 per cent on the BSE.

Sobha Developers promoter pledges 28.39% stake

Sobha Developers today said one of its promoter -- Shobha Menon -- has pledged 28.39 per cent stake of the company for an undisclosed amount.

In a filing to the Bombay Stock Exchange, the company said that the promoter has pledged over 2.07 crore shares, representing 28.39 per cent stake of the company.

As of December quarter, Sobha Menon holds 4.13 crore shares, representing 56.72 per cent stake.

Aban Offshore, 11 others disclose their pledge shares

Aban offshore disclosed that the company has pledged 8.14 per cent of the total outstanding shares of the company.

Another Tata group company, Indian Hotels said that 3.46 per cent of its total shares are pledged with financial institutions. Other major disclosures include Bajaj Auto that has pledged 2.57 per cent of its shares, Kamat Hotels has pledged 4.2 per cent shares, Madras Cements has pledged 2.11 per cent and Uttam Sugar Mills have pledge 23.28 per cent of the total out standing shares of the company.

The other mid and small enterprises companies that declared pledged shares, include Blue Coast Hotels and Resorts (19.82 per cent), South Asian Petrochem (22.75 per cent), Aksh Optifibre (1.69 per cent), Sudal Industries (37.72 per cent) Reliance Chemotex Industries (16.91 per cent) and KEI Industries (4.59 per cent).

Nagarjuna Fertilizers promoters pledge 24.56% stake

Nagarjuna Fertilizers & Chemicals today said its promoters have pledged a 24.56 per cent stake of the company for an undisclosed amount.

In a filing to the Bombay Stock Exchange, the company said that its promoters have pledged over 10.51 crore shares, representing a 24.56 per cent stake of the company.

KS Raju and Associates Holdings has pledged over 1.28 crore shares, representing a three per cent stake, and KRR Holdings has pledged over 75 lakh shares, a 1.76 per cent stake in the company, the filing added.

Further, Corporate Securities and Holdings has pledged over six lakh shares, representing a 0.16 per cent stake, and Paschim Holdings has pledged a 0.13 per cent stake, over five lakh shares of the company, the filing said.

Nagarjuna Management Services has pledged over 4.77 crore shares, an 11.15 per cent stake in the company, and Chinnar Securities has pledged over 40 lakh shares, a 0.94 per cent stake, it added.

Nagarjuna Holdings has pledged 3.17 crore shares, representing a 7.42 per cent stake of the company, it said.

Dabur India promoters pledge 9.25% stake

FMCG firm Dabur India today said five of its promoters have pledged 9.25 per cent stake of the firm, having over 86.50 crore total outstanding shares.

The promoters -- VIC Enterprises, Puran Associates, Chowdry Associates, Ratna Commercial Enterprises and Gyan Enterprises -- pledged over eight crore equity shares, Dabur India said in a filing with the Bombay Stock Exchange.

The company, having interests in healthcare, personal care and food products, owns various brands including Dabur Amla, Dabur Chyawanprash, Vatika, Hajmola and Real. It operates in consumer care, international business, consumer healthcare and retail segments

Pledged Shares - List

===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
Maytas Infra              02/09/09    8,912,700     15.14% n/a
Ansal Housing & Const.    02/09/09    5,218,208     29.70% n/a
Kemrock Inds. & Exports   02/09/09    1,309,729     11.89% n/a
Jain Irrigation Systems   02/09/09    3,715,321      5.13% n/a
Arvind International      02/09/09      786,320     11.22% n/a
Rajratan Global Wire      02/09/09      750,000     20.13% n/a
Walchandnagar Inds.       02/09/09    1,996,000      5.25% n/a
STL Global                02/09/09    6,000,000     21.85% n/a
Kopran                    02/09/09      577,500      1.64% n/a
Eimco Elecon India        02/09/09      500,000      8.67% n/a
Birla Ericsson Optical    02/09/09    1,250,000      4.17% State Bank of India
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
Kotak Mahindra Bank       02/09/09       50,000      0.01% n/a
Cranes Software Int.      02/09/09   31,880,000     27.00% n/a
Atlanta                   02/09/09      333,335      2.05% n/a
Gujarat NRE Coke          02/09/09   75,309,956     15.96% n/a
Kirloskar Oil Engines     02/09/09    8,830,000      4.55% n/a
JIK Industries            02/09/09       32,385      0.13% n/a
Wintac                    02/09/09      250,000     14.29% UCO Bank
Software Technology Grp.  02/09/09    2,529,000     18.59% J&K Bank
PVP Ventures              02/09/09    6,946,000      3.00% L&T Infra. Finance
                        02/09/09      500,000      0.22% Eureka Credit Fin.
Kamat Hotels India        02/09/09    6,214,750     47.09% n/a
India Infoline            02/09/09      150,000      0.05% n/a
Great Eastern Shipping    02/09/09        7,000     0.005% n/a
Shasun Chemicals          02/09/09    1,560,000      3.23% n/a
Geodesic                  02/09/09      760,230      0.82% n/a
Dr Reddys Laboratories    02/09/09   10,419,829      6.19% n/a
Pioneer Embroideries      02/06/09    2,045,570     16.75% n/a
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
Suryachakra Power Corp.   02/06/09   11,420,835     14.91% n/a
Rain Commodities          02/06/09   17,638,612     24.90% n/a
Everonn Systems India     02/06/09      576,210      3.81% n/a
HEG                       02/06/09    4,100,000      9.47% n/a
Apollo Tyres              02/06/09   53,477,080     10.62% n/a
Sanghvi Movers            02/06/09    1,275,000      2.95% n/a
Kajaria Ceramics          02/06/09    1,500,000      2.04% Bank of Rajasthan
Prime Focus               02/06/09    1,900,000     14.93% Kotak Mahindra Bank
Spanco                    02/06/09    2,000,000      9.69% n/a
Sutlej Textiles & Inds.   02/06/09    1,758,125     16.10% n/a
Kale Consultants          02/06/09      457,000      3.67% Kotak Mahindra Invst
                        02/06/09    1,390,000     10.15% Birla Global Fin.
Arshiya International     02/06/09    7,375,000     12.55% n/a
Subex                     02/06/09    2,508,361      7.20% n/a
Shetron                   02/06/09    1,664,858     18.49% Citicorp Finance
                                      100,000      1.11% Union Bank of India
                                      815,200      9.05% Dewan Housing Fin.
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
                                      546,000      6.06% Pam Pharmaceuticals
Oricon Enterprises        02/06/09    3,556,752     36.93% n/a
Jubilant Organosys        02/06/09   20,150,000     13.66% n/a
Bartronics India          02/06/09    2,656,760      9.17% n/a
Resurgere Mines           02/06/09    1,000,000      3.50% Union Bank of India
                        02/06/09    1,000,000      3.50% ICICI Bank
                        02/06/09    1,500,000      5.26% Pam Glatt PharmaTech
JK Cement                 02/06/09   31,875,225     45.58% Allahabad Bank
Filatex India             02/06/09      500,000      2.91% n/a
SRF                       02/06/09   20,920,795     32.83% n/a
Andhra Pradesh Paper M.   02/06/09      971,115      3.77% IDBI Trusteeship
GVK Power & Infra.        02/06/09   61,475,557      4.37% Axis Bank/IDBI Bank
OCL India                 02/06/09       50,000      0.09% n/a
CCAP                      02/06/09      873,998     24.48% State Bank of India
Amrit Banaspati           02/06/09    1,198,552     16.28% n/a
Silktex                   02/06/09      500,000      6.56% State Bank of India
Network 18 Media & I.     02/06/09    1,035,861      1.68% SICOM
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
                        02/06/09    8,355,089     13.52% State Bank of India
Television Eighteen       02/06/09       70,000      0.06% BNP Paribas
                        02/06/09    1,750,000      1.46% Birla Global Fin.
Gillette India            02/06/09      158,917      0.49% n/a
Vanasthali Textile I.     02/06/09    4,350,000     21.96% IDBI Bank
                        02/06/09    2,360,000     11.91% Allahabad Bank
Chambal Fert. & Chem.     02/05/09   32,150,000      7.72% n/a
Rajvir Industries         02/05/09       93,092      3.07% SBH*
                        02/05/09      200,000      6.59% Bank of Rajasthan
                        02/05/09      100,000      3.29% Axis Bank
Zicom Electronic S S      02/05/09    1,720,100     13.54% n/a
Alchemist                 02/05/09    1,477,400     12.07% Bank of Rajasthan
Godawari Power & Ispat    02/05/09    3,380,000     12.04% n/a
Karuturi Global           02/05/09   84,472,370     18.77% Yes Bank
Sujana Metal Products     02/05/09    4,700,000      6.79% n/a
Sujana Towers             02/05/09    1,291,000      3.12% n/a
Zylog Systems             02/05/09      800,000      4.86% n/a
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
J Kumar Infraprojects     02/05/09    2,025,000      9.76% Bank of India
Ganesh Benzoplast         02/05/09    6,279,538     21.45% n/a
Panchmahal Steel          02/05/09    4,057,000     29.00% n/a
Time Technoplast          02/05/09   58,970,000     28.18% n/a
Hindustan Motors          02/05/09   26,271,854     16.30% ICICI Bank
Sahara One Media & Ent.   02/05/09    1,500,000      6.97% IDBI Bank
Gangotri Iron & Steel     02/05/09      319,830      4.15% State Bank of India
Jindal Drilling & Ind.    02/05/09    6,159,400     26.86% n/a
Astra Microwave Prod      02/05/09      128,526      0.24% Religare Securities
Emco                      02/05/09    1,391,105      2.36% n/a
Lanco Infratech           02/05/09   18,962,500      8.53% n/a
Solix Technologies        02/05/09    1,750,000     28.11% TDB-Govt. of India@
Haldyn Glass Gujarat      02/05/09    2,158,750     40.16% n/a
UTV Software              02/05/09    7,781,199     22.76% n/a
LG Balakrishnan & Bros    02/04/09    3,361,900      4.28% n/a
LGB Forge                 02/04/09    3,361,900      3.36% n/a
Kavveri Telecom           02/04/09      500,000      5.09% n/a
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
Kitply                    02/04/09   12,004,395     35.19% IDBI Trusteeship
Suryajyoti Spng. Mills    02/04/09      500,000      3.24% State Bank of India
                        02/04/09      500,000      3.24% IDBI Trusteeship
CHD Developers            02/04/09    8,000,000      8.25% n/a
Torrent Power             02/04/09   52,287,000     20.97% n/a
Upper Ganges Sugar1       02/04/09      657,966      5.69% Bank of Rajasthan
Upper Ganges Sugar2       02/04/09      259,923      2.25% Bank of Rajasthan
Upper Ganges Sugar3       02/04/09      234,891      2.03% Bank of Rajasthan
Great Offshore            02/04/09    5,527,592     14.88% n/a
Shyam Telecom             02/04/09    2,200,000     19.52% State Bank of India
Fluidomat                 02/04/09      734,078     14.83% n/a
Astra Microwave Prod.     02/04/09      300,000      0.56% Religare Finvest
Shree Ashtavinayaka CV    02/04/09    1,018,000      9.71% n/a
JB Chemicals              02/04/09       38,000      0.04% n/a
Murudeshwar Ceramics      02/04/09    2,278,840     13.02% IDBI
                        02/04/09      825,000      4.71% Dhanalakshmi Bank
                        02/04/09      412,000      2.35% Dev. Credit Bank
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
Micro Inks                02/03/09   17,534,718     70.50% n/a
Balaji Telefilms          02/03/09    4,300,030      6.59% n/a
Khandwala Securities      02/03/09    1,733,321     14.52% Bajaj Auto#
Hind Syntex               02/03/09      580,902      5.33% ICICI Bank
Bhuwalka Steel            02/03/09    1,556,170     30.00% n/a
Kriti Industries          02/03/09   12,367,640     19.95% IDBI Bank
Radaan Mediaworks         02/03/09   12,500,000     23.08% IOB**
Aban Offshore             02/03/09    3,076,900      8.14% n/a
Shree Renuka Sugars       02/03/09   22,800,000      8.45% Crossborder Inves.
Pasupati Acrylon          02/03/09   15,125,000     21.26% IFCI Ltd.
Ganesh Housing Corp.      02/03/09    9,796,427     30.00% ICICI Bank
PVR                       02/03/09      500,000      2.17% Axis Bank
Bilpower                  02/03/09    1,160,000     11.05% n/a
Zuari Industries          02/02/09      780,000      2.65% IL&FS Fin. Serv.
                        02/02/09      750,000      2.55% Allahabad Bank
                        02/02/09      500,000      1.70% Birla Global Fin.
Crest Animation Studios   02/02/09      200,000      0.89% State Bank of India
===============================================================================
Companies                 Date of        Shares  % Paid-up Lender
                       Disclosure     Pledged   Shares~
===============================================================================
C&C Construction          02/02/09    2,300,000     12.60% Bank of Rajasthan
B.L. Kashyap & Sons       02/02/09    1,314,000      6.40% ECL Finance
Nava Bharat Ventures      01/30/09    5,000,000      6.44% IDFC^
HBL Power Systems         01/30/09      190,130      0.78% State Bank of India
Dolphin Offshore Ent.     01/29/09    2,136,512     22.34% State Bank of India
                        01/29/09      735,000      7.68% Canara Bank
Asian Paints              01/29/09   14,371,909     14.98% n/a
MindTree                  01/28/09       26,428      0.07% ICICI Bank
                        01/28/09       75,000      0.20% HDFC
Godrej Consumer Products  01/23/09   19,500,000      7.78% JP Morgan Sec.
SSPDL                     01/22/09    2,585,850     20.00% State Bank of India
Gammon India              01/31/09    6,000,000      6.86% India Infoline Invs.
===============================================================================
Notes:  * SBH = State Bank of Hyderabad.
      ^ IDFC = Infrastructure Development Finance Company.
     ** IOB = Indian Overseas Bank.
      # Company states that loan has been refunded and
        there is no balance pending with Bajaj Auto Ltd.
      ~ Calculated by Bloomberg News, where not provided by the company and
        may vary from actual company records.
      @ Technology Development Board, Dept. of Science & Technology,
        Ministry of Science & Technology, Govt. of India.

via Bloomberg

Pledge-o-Mania

More than 20 companies on Monday informed the stock exchanges about shares that their promoters have pledged with lenders to raise money, a day before the Tuesday deadline set by market regulator Sebi. Companies like Jaiprakash Hydro-Power, India Cements, Godrej Consumers and Religare Enterprises disclosed details on pledged shares, bringing the total to more than 100.

The promoters of India Cements have pledged shares representing a 22.43% stake in the company, while Jaiprakash group has offered a 60% stake in Jaiprakash Hydro as security. In case of Religare, the number of shares pledged was a relatively trivial 0.58%.

Tata Sons, the main investment firm of the Tata group, has pledged a 13.19% stake in Tata Steel, 14.59% holding in Tata Power and 7.6% in Tata Teleservices (Maharashtra), according to information shared with exchanges on Monday.
Other Tata group firms such as Tata Power and Tata Teleservices have pledged 4.37% and a 37.65% stakes, respectively, in Tata Teleservices (Maharashtra) — the listed entity.

However, other details on pledges such as the timing of the loan, amount raised, end-use of the fund and identity of lenders have not been disclosed by the companies. At present, such disclosures are not mandatory.

Sebi has recently asked promoters of listed companies to disclose pledging of shares as security against loans availed of by them.

The market regulator’s order came in the wake of offloading of shares by lenders in some companies, including fraud-hit Satyam. Although the companies will now have to come out with such disclosures periodically, they are supposed to disclose the previous pledges by Tuesday this week.

Last week, some of big domestic business houses as well as MNCs like Asian Paints, Zuari Industries, Huber of Germany, Aban Offshore, Dr Reddy’s Lab, Godrej Consumer Products, Great Offshore and JB Chemicals and United Spirits have spelt out the details of pledged shares. United Spirits has said that the pledged shares represent a second-level of collateral for funds raised.

Industry experts said the promoters have been pledging their shares to raise funds for several reasons, ranging from financing creeping acquisitions to foreign buyouts.

While pledging of shares has been an age-old method of raising money, the trend deepened since 2001 when a downturn in commodities impacted the financing capacity of many Indian firms. In loan against shares, lenders charge a minimum margin of 200-250%, meaning that a Rs 100 crore would require a pledge of securities worth Rs 200-250 crore.

Interestingly, some of the companies such as ABG Shipyard and Gail have been proactive in informing stock exchanges that their promoters had not pledged any share.