JM Financial pledges additional 1.05% stake in TV18

MUMBAI: TV18 Broadcast Ltd today said JM Financial Products Ltd, has further pledged 1.05 per cent stake of the company, taking its total pledged shares to 9.33 per cent.

JM Financial Products Ltd has pledged an additional 1.05 per cent stake of the company, representing 38 lakh shares, taking its total pledged shares to 9.33 per cent, TV18 said in a disclosure to the Bombay Stock Exchange.

Its total pledged stake in the company earlier stood at 8.28 per cent stake, it added. TV18 owns and operates news channels CNBC TV18 and CNBC Awaaz and is a subsidiary of Network18.

Shares of TV18 were trading at Rs 64.50 a piece, down 1.98 per cent from its previous close on the BSE.