Team News Riveting
Raipur, September 4
Godawari Power and Ispat Limited (GPIL) released a pledge on over 30 lakh equity shares of Prakash Industries Limited (PIL).
“Release of pledge shares” refers to the process of a company or individual releasing shares that they had previously pledged as collateral for a loan or other financial obligation. This can happen when the loan is paid off or when the lender agrees to release the shares as part of a restructuring or settlement agreement. When pledge shares are released, the company or individual regains full ownership and control of those shares.
“In continuation of our earlier disclosures on the captioned subject we would like to inform you that Godawari Power and lspat Limited has released pledge on 30,45,800 (1.70 per cent) Equity Shares of Prakash Industries Limited held by below mentioned Pledgers on 30.08.2023,” GPIL informed the stock exchanges in a filing dated August 31, 2023.
The names of the pledger and the number of shares of Prakash Industries include Rourkela Steel LLP (490600 shares), Hissar Tubes Pvt Ltd (700000 shares), Essent al Electronics Pvt Ltd (597300 shares), Vanshi Farms Pvt Ltd (567900 shares) and Prakash Industrial Finance Ltd (690000 shares).
The GPIL had earlier released a pledge on 10 lakh shares of Prakash Industries in June this year. The company had informed the stock exchanges, “In continuation of our earlier disclosure dated 21.04.2023 pertaining to creation of pledge on 1,75,23,575 Equity Shares of Prakash Industries Limited in favour of Godawari Power and Ispat Limited. We would like to inform you that out of the above, the pledge on 10,15,000 (0.57 per cent) Equity Shares of Prakash Industries Limited has been released by the Company on 21.06.2023.”
