Packaging company Hindustan Tin Works on Thursday said Religare Finvest has increased its stake in the firm by 2.41 per cent to 14.09 per cent.
“Shares offered as part of collateral/ encumbrances created in consideration of borrowings by various clients over a period of time...,” Hindustan Tin Works said in a regulatory filing on the “mode of transaction.”
It, however, did not specify the date of transaction.
Non-banking financial company Religare Finvest had 12.15 lakh shares, or 11.68 per cent, stake in Hindustan Tin Works before the transaction. It now has 14.65 lakh shares in the company.
As on June 30, Hindustan Tin Works’ promoters had 38.35 per cent stake in the company.
Shares of Hindustan Tin Works today settled at Rs 51.45 on the BSE, up 1.68 per cent.