New Delhi, Aug 11 (PTI) IndusInd Bank on Tuesday said it has sold a portion of the invoked pledged shares of Eveready Industries and McLeod Russel India.

On Saturday, the bank had said it has acquired equity shares of battery maker Eveready Industries India Ltd and tea producer McLeod Russel India Ltd after invocation of pledged shares following a loan default.

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"We wish to inform that the bank had yesterday, August 10, 2020 sold 32,71,608 equity shares of Eveready Industries India Ltd and 55,00,000 equity shares of McLeod Russel India," IndusInd Bank said in a regulatory filing on Tuesday.

After the sale of shares, the bank as on date holds 24,11,712 equity shares comprising 3.32 per cent paid-up equity capital of Eveready Industries and 23,32,253 equity shares comprising 2.23 per cent paid-up equity capital of Mc-Leod Russel, the private sector lender said.

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The bank had acquired 7.82 per cent stake (56,83,320 shares) in Eveready Industries and about 7.5 per cent stake (78,32,253 shares) in McLeod Russel India.

Williamson Magor and Co Ltd had pledged shares in group companies Eveready Industries and McLeod Russel India with the bank for securing outstanding dues of Seajuli Developers and Finance Limited.

The bank had invoked the pledge held on the shares for recovery of its dues from Seajuli.

IndusInd Bank stock closed 2.45 per cent higher at Rs 521.85 apiece on BSE on Tuesday.

McLeod Russel jumped 4.94 per cent to Rs 14.65, while Eveready closed 0.40 per cent down at Rs 148.70.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)