Housing Development Finance (HDFC) has invoked pledge on 50 lakh shares of real estate company Ansal Housing aggregating to 8.42% of its paid-up share capital after the latter defaulted on payment of dues.
“For the purpose of recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the Corporation on December 13, 2021, invoked the pledge on 50,00,000 shares of Ansal Housing (Ansal) aggregating 8.42% of its paid-up share capital, pledged with the Corporation by the said borrower,” HDFC said in an exchange filing on Tuesday.
In a separate exchange notification dated October 8, HDFC said it had sold over 13. 8 lakh shares representing 2.33% of the paid-up share capital of the real estate company.Ansal Housing’s total financial indebtedness including short-term and long-term debt stood at `685.66 crore, as per an exchange notice filed by the company on Tuesday.
For the quarter ended September, Ansal Housing’s net loss stood at Rs 11.7 crore while its total income and total expenses were at Rs 49.2 crore and Rs 68.7 crore rupees, respectively.