Promoters of Zen Technologies clear release of shares pledge upon loan payment

Zen Technologies on Friday said that as on date, the entire promoter and promoter-group holding in the company stands free of all pledges. In 2013, the company had availed a loan for ₹11.60 crore from Technology Development Board (TDB), towards Development of UAV simulator. Ashok Atluri, promoter, had pledged 1.50 crore equity shares in favour of TDB. The loan was fully paid and the charge fully satisfied. As a result, the promoters’ pledge was released by TDB, it said in a release to the stock exchanges. Shares of Zen Technologies closed at ₹58.85, up 4.72 per cent from its previous close on the BSE.