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In a filing with the BSE, Adani Power submitted a copy of disclosure by the IDBI Trusteeship Services to the stock exchange stating that 27.30 crore shares or 9.51 per cent of the total shares of the company are pledged with the latter.
According to the filing, the “date of acquisition/ sale of shares/ voting rights or date of receipt of intimation of allotment of shares, whichever is applicable” is May 12. Financial details were not disclosed in the filing. At the current market price the value of the pledged shares works out to ₹1,489.2 crore.
The pledging of the shares comes at a time when Adani Power’s shares have rallied by over 12 per cent in the past five trading sessions to ₹54.55 on Wednesday.
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