New Delhi, Dec 8 (PTI) Debt-ridden Videocon group todaysaid 3.19 per cent shares pledged by promoter group entitieshave been invoked by various pledgees.
In a BSE filing, Videocon Industries said 1.06 croreshares or 3.19 per cent stake in company, pledged by promotergroup entities Videocon Realty and Infrastructures Ltd,TekCare India India Pvt Ltd, Solitaire Appliances Pvt Ltd,Electroparts (India) Pvt Ltd were invoked.
"Since October 18, 2017 till November 24, 2017, total1.06 crore shares have been invoked by various pledgees. Dueto such invocation...the promoters shareholding reduced to3.19 per cent of the paid-up share capital of the company".
Promoter and promoter group entities held 58.05 per centstake in the company. It now stands at 54.85 per cent.
Last month, the Videocon group, which is reeling under adebt of over Rs 40,000 crore, sold its home appliances brandKenstar to private equity firm Everstone Group.
The Videocon group has also decided to merge its direct-to-home business to Dish TV. It had also sold its spectrum insix circles for a consideration of Rs 4,428 crore to telecommajor Bharti Airtel.
Shares of Videocon Industries were trading 4.88 per centhigher at Rs 20.40 on BSE. PTI SVKSA.
This is unedited, unformatted feed from the Press Trust of India wire.