Many Indian companies are now-a-days looking busy in collecting data related to pledge shares, after recent SEBI’s move.
As per Sebi’s new guideline, all companies will have to reveal information about shares pledged by promoters within a period of 7 days after the promoters give the companies an intimation. The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares, whose prices he had inflated by falsifying profits. Few companies, which revealed their details after SEBI’s notification, are as follows:-
As per Sebi’s new guideline, all companies will have to reveal information about shares pledged by promoters within a period of 7 days after the promoters give the companies an intimation. The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares, whose prices he had inflated by falsifying profits. Few companies, which revealed their details after SEBI’s notification, are as follows:-
Name of Company Shares Pledged % of paid up shares
Micro Inks 1.75 crore 70.50
Bhuwalka Steel 15.56 lakh 30.00
Ganesh Housing Corp. 97.96 lakh 30.00
Radaan Mediaworks 1.25 crore 23.08
Dolphin Offshore Ent. 28.35 lakh 30.00
Pasupati Acrylon 1.51 crore 21.26
Torrent Power 5.22 crore 20.97
SSPDL 25.85 lakh 20.00
Kriti Industries 1.23 crore 19.95
Shyam Telecom 22 lakh 19.52
United Spirits 1.86 crore 18.00
Asian Paints 1.43 crore 14.98
Great Offshore 55.27 lakh 14.88
Fluidomat 7.34 lakh 14.83
Khandwala Securities 17.33 lakh 14.52
Murudeshwar Ceramics 22.78 lakh 13.02
C&C Construction 23.lakh 12.60
Bilpower 11.60 lakh 11.05
Parsvnath Developers NA 10.00
Lanco Infratetech 37.10 lakh 8.52
Godrej Consumer Products 1.95 crore 7.78
Prince Stone Investments 1.52 crore 6.85
Kavveri Telecom Products Ltd 5 lakh 5.00
Kavveri Telecom Products Ltd 5 lakh 5.00
JB Chemicals & Pharmaceuticals 38,000 0.04
It may be noted that, in developed countries such as the US, not only promoters but directors too are required to disclose their pledged shares.A market expert, which was not to be identified said, At presently, most of the promoters were hesitating to reveal as there is fear among investors that pledging of shares would cost promoters dearly.
It may be noted that, in developed countries such as the US, not only promoters but directors too are required to disclose their pledged shares.A market expert, which was not to be identified said, At presently, most of the promoters were hesitating to reveal as there is fear among investors that pledging of shares would cost promoters dearly.
