Two RCom promoters pledge 11.5% more stake in Axis Trustee services

Reliance Communications

Two promoter entities of Reliance Communications (RCom) have pledged 11.5 per cent more stake in favour of Axis Trustee Services, according to regulatory filings.

Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51 per cent of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee.

A BSE filing on pledge of RCom shares in favour of Axis Trustee Services showed that fresh pledge of 31.82 crore shares was created on August 16, 2019.

Another filing showed that Reliance Communications Enterprises pledged - in two lots - 8.37 per cent holding with Axis Trustee Services Ltd, while Reliance Telecom Infrainvest too created a fresh pledge on 3.13 per cent holding in its favour.