Sterling Biotech today said its promoters pledged 8.86 lakh shares of the firm on June 16, following which the total stake in the company pledged by the promoters has gone up to 10.42 per cent.
On June 16, 33 different promoter entities pledged 8.86 lakh shares of the firm, taking the total number of pledged shares of the company to 2.7 crore, Sterling Biotech said in a filing to the BSE.
As per the company’s closing stock price on June 16, the 8.86 lakh shares would have been valued at Rs 8.34 crore.
Shares of Sterling Biotech were trading at Rs 87.50 apiece in the late afternoon on the BSE today, down 2.89 per cent from their previous close.