Pledgees solicit over 3 per cent stake in Videocon
Tanay Loya / 08 Dec 2017
Videocon Group on Friday announced that its pledgees have invoked 3.19 per cent stake in the company
Videocon Group on Friday announced that its pledgees have invoked 3.19 per cent stake in the company.
The company's 1.06 crore shares or 3.19 per cent stake pledged by promoter group entities Videocon Realty and Infrastructures, TekCare India, Solitaire Appliances, Electroparts (India) were invoked between October 18 and November 24, 2017, the company said in a BSE filing.
Holdings of promoter and promoter group entities in the company now stands at 54.85 per cent, declining from earlier 58.05 per cent.
Videocon is under a debt of over Rs. 40,000 crore.The company last month sold its home appliances brand Kenstar to a private equity firm, Everstone Group. It also sold its spectrum in six circles to Bharti Airtel for Rs. 4,428 crore. The group has also decided to merge its direct-to-home (d2h) business to Dish TV.
On Friday, Videocon closed at Rs. 20.40, up Rs 0.95, or 4.88 per cent on the NSE. The scrip opened at Rs 20.40 and was locked in upper circuit. The stock attracted a traded volume of 10,05,364 shares on NSE.