Adishakti Loha Promoter Pledges Over One Million Shares in Securities Trade
Adishakti Loha and Ispat Limited has confirmed details regarding the encumbrance of promoter shares, involving Pawan Kumar Mittal. The company revealed that 1,412,525 equity shares held by Mr. Mittal were pledged as security for a financial transaction with MSB-trade Securities Limited.The encumbrance concerns shares belonging to the promoter, Mr. Pawan Kumar Mittal. These shares constitute 11.25% of the total share capital of Adishakti Loha and Ispat Ltd (TC). The purpose for which the shares were pledged is explicitly stated as securing a margin requirement for trading in securities.
The financial details related to this pledge are specific, with the aggregate amount involved being INR 19,069,087. This transaction was facilitated by MSB-trade Securities Limited.
Key details regarding the promoter's shareholding and the encumbrance include:
| Particular | Details |
|---|---|
| Name of Company (TC) | Adishakti Loha and Ispat Limited |
| Promoter Involved | Pawan Kumar Mittal |
| Total Promoter Shareholding | 11.25% |
| Encumbered Shares | 1,412,525 shares |
| Type of Encumbrance | Pledge over 100% of promoter share capital |
| Entity in Favour | MSB-trade Securities Limited |
The security cover for the pledged shares was assessed based on a volume weighted average price of Rs 13.50/- per share, against which the aggregate amount of INR 19,069,087 is secured.
Stock Price Movement
Adishakti Loha and Ispat Ltd settled on Tuesday at ₹13.49, ticking up 4.17% in post-market trading. The shares experienced movement throughout the day, finding a low of ₹12.96 but ultimately peaking at an intraday high of ₹13.93.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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