New Delhi: Promoter entities of three companies of Anil Ambani-led Reliance Group RCOM, R-Infra and R-Power have pledged shares that are worth about Rs3,700 crore at the current market value.The pledging of shares was disclosed in separate regulatory filings by the three companies, two of whom had no share encumbrance earlier. As per Reliance Communications, its promoter entity, Reliance Com-munications Enterprises Private Limited, pledged 13.5 crore shares on December 22 with Axis Trustee Services, while 6 crore shares were pledg-ed with IndusInd Bank.
At the current market price, these shares are worth over Rs1,547 crore. Separately, Reliance Inf-rastructure said its promoter entity Reliance Project Ventures and Ma-nagement Private Limi-ted (RPVMPL) and Relia-nce Big Private Limited pledged 1.3 crore and 1 crore shares, respectively, with Axis Trustee Services Ltd. These shares are worth over Rs1,147 crore at current share price. Reliance Project Ventures and Management Private Limited also pledged 16.75 crore shares in Reliance Power with Axis Trustee Services.
The current market value of these shares stands at about Rs1,020 crore. At the end of last quarter, no promoter shares were pledged in R-Com and R-Infra, while a part of promoter holding was already pledged in R-Power as on September 30, 2014.Pursuant to the latest pledge creation by the promoter entity Reliance Communications Enter-prises Pvt Ltd (which has over 30 per cent stake), an 8.12 per cent stake in the company is pledged now.
In case of R-Infra, nearly 13 per cent stake has been pledged by the two promoters who together held nearly 48 per cent stake in the company. In R-Power, over 10 per cent stake has been pledged by one promoter that has over 19 per cent stake. It had previously pledged over 4 per cent stake. Shares of RCom on Wednesday closed at Rs 79.35, R-Infra at Rs498.85 and R-Power at Rs 60.95 a piece at the BSE.
