2 Financial Institutions release 13.5 cr pledged shares of GMR Infra

Two financial institutions have released 13.5 crore shares of diversified GMR Infrastructure that were pledged by the company's promoter GMR Holdings...

Written by PTI

New Delhi

April 11, 2015 19:47 IST

"GMR Holding Pvt Ltd has proposed for development of LNG facility with capacity of 1.75 MTPA at Kakinada Deep Water Port (KDWP) berth 7 located adjacent to survey no. 317/318, GMR barge mounted power plant located at survey no. 411, 413, tehsil Kakinada, district East Godavari, Andhra Pradesh. (Reuters)

Two financial institutions have released 13.5 crore shares of diversified GMR Infrastructure that were pledged by the company’s promoter GMR Holdings.

Around 7.45 crore shares were released by JM Financial Products on April 9 and 6 crore shares were released by SICOM Ltd on April 10, GMR Infrastructure said in a regulatory filing.

The 13.5 crore shares that were released translated into 3.08 per cent stake.

The value of 7.45 crore shares based on April 10 closing price of Rs 18.80 apiece, is estimated at Rs 140.06 crore.

While 6 crore shares based on April 9 closing price of Rs 17.30, are worth Rs 103.8 crore.

For Updates Check Market News; follow us on Facebook and Twitter

TOPICSGMR Infrastructure

If you are keen to know more about Nifty 50 and BSE Sensex levels and seek expert advice on what's driving the gains and how to build your portfolio, track the latest stock market stats, share market news and top brokerage bets on Financial Express. Download the Financial Express App for the fastest and most reliable business news alerts, key investment strategies and latest movers and shakers from across financial market.

This article was first uploaded on April eleven, twenty fifteen, at forty-seven minutes past seven in the evening.