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IndusInd Bank sells part of pledged shares of Eveready Industries, McLeod Russel


NEW DELHI: IndusInd Bank on Tuesday said there are sold a portion of typically the invoked pledged shares of Eveready Industries and McLeod Russel India.

On Sat, the bank had said there are acquired equity shares of battery maker Eveready Companies India Ltd and herbal tea producer McLeod Russel Indian Ltd after invocation of pledged shares following a bank loan default.

“We wish to enlighten that the bank had last night, August 10, 2020 available 32,71,608 money shares of Eveready Companies Indian Ltd and 55,00,000 equity shares of McLeod Russel India,” IndusInd Bank claimed in a regulatory filing upon Tuesday.

After the sale of shares, the bank as upon date holds 24,11,712 equity shares composed 3.32 per cent paid-up equity capital of Eveready Industries and 23,32,253 equity shares composed 2.23 per cent paid-up equity capital of Mc-Leod Russel, the private field lender said.

The standard bank had acquired 7.82 per cent stake (56,83,320 shares) in Eveready Industries and about 7.five per cent stake (78,32,253 shares) in McLeod Russel India.

Williamson Magor and Co Ltd got pledged shares in party companies Eveready Industries plus McLeod Russel India together with the bank for securing remarkable dues of Seajuli Designers and Finance Limited.

The bank had invoked typically the pledge held on the shares for recovery of it has the dues from Seajuli.

IndusInd Bank stock closed 2.45 per cent higher on Rs 521.85 each on BSE on Wednesday.

McLeod Russel jumped 5.94 percent to Rs 14.65, while Eveready closed 0.40 per cent down at Rs 148.70.

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