3.30 crore Adani Ports shares released

Mumbai: Nearly 3.31 crore pledged shares of Adani Ports amounting to 1.60 per cent stake in the company have been released by the two lenders, according to a regulatory filings on the stock exchanges. These shares were pledged by the company’s promoters – Gautam Adani and Rajesh Adani on behalf of S B Adani Family Trust — and were encumbered in favour of IDBI Trusteeship Services and Axis Trustree Services. As on Dec 31, 2018, 45.51 per cent of the promoter’s shares were pledged. Adani Port stock declined 7 per cent in the past month.