SRF promoters pledge 32 pc stake with lenders

MUMBAI: Diversified house SRF on Friday said two of its promoters have pledged nearly 2.09 crore shares, representing 32.83 per cent stake in the company, with the lenders.

SRF Polymers Investments, a promoter group firm, has pledged 1.33 crore shares representing 20.95 per cent of the total number of outstanding shares of the company, it said in a disclosure to the Bombay Stock Exchange.

Further, SRF Polymers, another promotor firm, has pledged 75.70 lakh shares or 11.88 per cent stake, the company said.

However, SRF has not disclosed that to whom these shares have been pledged.

With a holding of 26.20 per cent in SRF Ltd, SRF Polymers Investments is the largest shareholder the company under promoter and promoter group category.

SRF Polymers has a stake of 16.89 per cent, making it the second largest shareholder after SRF Polymers Investments in the same category.

Shares of SRF closed at Rs 64.55, up 1.25 per cent on BSE.