New Delhi: Adani Power on Monday said it has pledged more than seven crore additional shares, accounting for about 3.25 percent stake in the company. However, financial details of the transaction were not disclosed.
The company has pledged little over 7.08 crore shares -- around 3.25 percent shareholding --  according to a filing to the BSE. With this, the total pledged shares of the company has increased to over 39.77 crore -- making up for 18.24 percent of its total shareholding.

Without providing specific details, the filing said that Adani Power shares are pledged with IDBI Trusteeship Services Ltd as a share pledge trustee for the benefit of lender.

As per the filing, "date of acquisition/sale of shares/voting rights or date of receipt of intimation of allotment of shares, whichever is applicable" is September 13.

Shares of Adani Power climbed 7.89 percent to close at Rs 50.60 on the BSE.


Latest News from Business News Desk