Lenders Invoke 55 Lakh Pledged Shares Of Reliance Infrastructure
Shares were pledged in favour of IDBI in capacity of debenture trustee for non-convertible debentures issued by Reliance Power.
IDBI Trusteeship Services on Thursday invoked pledge of 55 lakh equity of Reliance Infrastructure Ltd., representing 2.09 percent of the company's share capital, according to a regulatory filing.
These shares were pledged in favour of IDBI in capacity of debenture trustee for non-convertible debentures issued by Reliance Power Ltd., Reliance Infrastructure said in the BSE filing.
"As per default of the terms of the transaction documents have been committed by the issuer company(ies), therefore, on the instructions of the Investors/Lenders, invocation of pledge of 55,00,000 equity shares which were pledged in favour of IDBI Trusteeship Services Limited acting as Debenture Trustee for the benefit of debenture holder(s) for NCDs issued by Reliance Power Limited was done on 8th January 2020," the filing said.
The shares of Reliance Infrastructure closed at 26.20 apiece on the BSE, down 4.9 percent from its previous close.