Preferential allotment of shares are usually at the average price of a company's stock over six months, or two weeks, whichever is higher. The regulator said this rule would not be applicable to a company where the SEBI board had granted relaxation
A close look at Satyam’s stock price demonstrates the importance of establishing the period over which a firm’s financial condition has been misrepresented. For example, if we were to assume that the fraud began in May 2008 instead of January 2005,
So you are Wondering who else has Pledged Shares of their Company after Satyam's Problems.
Aban Offshore, Asian Paints, Dr Reddy’s Lab, Godrej Consumer Products, Great Offshore and JB Chemicals are names of some of the more prominent companies whose promoters have pledged shares against loans availed by them.
Aban Offshore promoters pledged 30.8 lakh shares representing 8.14 per cent of the value of the total paid-up equity capital. In the case of Dr Reddy’s Lab, 1.04 crore shares have been pledged representing 6.19 per cent equity capital. In a few cases, however, promoters have pledged their entire stake or close to that. A notable case is that of the Ramalinga Raju family controlled Maytas Infra.
Others in this category include Ashima Ltd, IG Petrochemicals, IOL Netcom, Rain Commodities, Shreenuj, Zicom Securities and Zylog Systems. Among industry segments, companies in the realty and entertainment sectors figure prominently.
Source thehindubusinessline.com
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