In a disclosure made by the company to stock exchanges it was found that more than 97% of the promoter's stake have been pledged. Such high level of stake pledge is alarming for the investors as it's not clear whether the promoter is still interested in the company or not.
Following are the details of the equity capital structure of the company and the number of shares pledged by the promoter.
Capital (No. of Shares in Million): 691.20
Promoter Stake (No of Shares in Million): 299.58
Promoter Stake (in %) : 43.34
Pledged Shares (No of Shares in Million) : 291.47
% of Paid up Equity Pledged: 42.17
% of Promoter Stake Pledged : 97.29