Promoter group shares pledged with lenders released: HFCL

New Delhi: Domestic telecom gear maker HFCL on Tuesday said all promoter group shares pledged with various lenders have been released. Promoters jointly hold 41.89 per cent stake in the company.

“We are pleased to inform all our stakeholders that an aggregate of 6,03,87,187 equity shares, being 100 per cent, of the total pledged shares out of the promoters’ shareholding in the paid-up equity shares capital of HFCL, have been released,” the company said in a BSE filing.

The company said that the pledges were made in the favour of various lenders as a collateral security for the credit facilities availed by HFCL.