Published on 17/08/2019 5:25:20 PM | Source: HT Media

Two RCom promoters pledge additional 11.5% stake

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New Delhi: Two promoter entities of Reliance Communications (RCom) have pledged 11.5% more stake in favour of Axis Trustee Services, according to regulatory filings. Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51% of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee.

A BSE filing on pledge of RCom shares in favour of Axis Trustee Services showed that fresh pledge of 31.82 crore shares was created on August 16, 2019.

Another filing showed that Reliance Communications Enterprises pledged — in two lots — 8.37% holding with Axis Trustee Services Ltd, while Reliance Telecom Infrainvest too created a fresh pledge on 3.13% holding in its favour.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.