Asian Paints promoters pledge 15%
The promoters of Asian Paints have pledged almost 15% of their stake, the company informed the stock exchanges on Wednesday.
By ET Bureau |
MUMBAI: The promoters of Asian Paints have pledged almost 15% of their stake, the company informed the stock exchanges on Wednesday.
The executive VC and MD Ashwin Dani and executive chairman Ashwin Choksi pledged 13.52% and 1.46% stake respectively through associate companies.
However, details such as the identity of lenders, amount of money raised and end-use of the funds were not disclosed. When contacted, Jalaj Dani, president (international operations) declined to disclose further details.
The promoters hold a 50% stake in the company. The shares of Asian Paints slipped 3.12% to close at Rs 780.35 on the BSE, ahead of the disclosure.
The executive VC and MD Ashwin Dani and executive chairman Ashwin Choksi pledged 13.52% and 1.46% stake respectively through associate companies.
However, details such as the identity of lenders, amount of money raised and end-use of the funds were not disclosed. When contacted, Jalaj Dani, president (international operations) declined to disclose further details.
The promoters hold a 50% stake in the company. The shares of Asian Paints slipped 3.12% to close at Rs 780.35 on the BSE, ahead of the disclosure.
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