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IL&FS sells pledged shares of Satyam
Special Correspondent
HYDERABAD: The share of promoters’ group in Satyam Computer Services has further dwindled with lending agencies selling off 1.03 crore shares afresh.
With the result, the shareholding of SRSR Holdings Pvt. Ltd. has shrunk to 3.60 per cent, said an official spokesperson of Satyam Computer.
SRSR Holdings is a family-owned arm of Chairman B. Ramalinga Raju to which 8.27 per cent of shares were transferred from the promoters’ group as on September 2008. The IL&FS Trust, which handled the pledging process, informed the National Stock Exchange on Tuesday that 2.45 crore shares of Satyam Computer were sold on instructions by debenture-holders and lenders between December 23 and January 5.
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