Ballarpur Industries (BILT) today said its promoter group firm Avantha Holdings has pledged 78 lakh shares agregating to 1.19% stake in the company.
In a filing to the Bombay Stock Exchange, the company which makes writing and printing paper, said Avantha Holding has pledged 78 lakh shares of face value Rs 2 each on August 6, 2011.
The company, however, did not disclose at what price the shares were pledged.
Avantha Holding Limited is a promoter group firm of BILT. It holds around 32.27 crore shares, or 49.2% stake, in the company.
Shares of Ballarpur Industries closed at Rs 29.20, down 1.18% from previous close.
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