Business

Reliance Communications pledges 3.25 cr shares

PTI

Reliance Communications on Friday said it has pledged an additional 3.25 crore shares or little over one per cent stake in the company. Axis Trustee Services ltd (ATSl) acted as trustee for the pledging of shares. In a filing to the BSE, the Anil Ambani-owned company said it has pledged 3.25 crore shares consisting 1.31 per cent of the share capital to Axis Trustee Services on June 11. Based on yesterday's closing price of  Rs57.80 on the BSE, these shares were worth nearly Rs188 crore. With this, the company has pledged a total of 22.25 crore shares, or 8.94 per cent of the share capital, the filing added.