DB Realty promoter firm pledges 2.6cr shares to HDFC

NEW DELHI: DB Realty's promoter company has pledged 2.6 crore equity shares to Housing Development Finance Corporation ( HDFC) Ltd.

In a filing to the BSE, DB Realty said that a promoter company Neelkamal Tower Construction has pledged 2.6 crore shares to HDFC on March 19.

The pledging of shares was against the financial facility extended by HDFC to a wholly-owned subsidiary of DB Realty, it added.

Neelkamal Tower Construction has 42.99 per cent stake in the company, while the total promoters stake in the company is 61.18 per cent as on December 31, 2012.

DB Realty's share price rose by 1.65 per cent to close at Rs 58.60 on BSE.