This Article is From Apr 11, 2015

2 Financial Institutions Release Pledged GMR Infra Shares

New Delhi: Two financial institutions have released 13.5 crore shares in diversified GMR Infrastructure that were pledged by the company's promoter GMR Holdings.

Around 7.45 crore shares were released by JM Financial Products on April 9 and 6 crore shares were released by SICOM Ltd on April 10, GMR Infrastructure said in a regulatory filing.

The 13.5 crore shares that were released translated into a 3.08 per cent stake.

The value of 7.45 crore shares, based on April 10 closing price of Rs 18.80 apiece, is estimated at Rs 140.06 crore.

While 6 crore shares are worth Rs 103.8 crore based on April 9 closing price of Rs 17.30.