Following a directive by the Securities and Exchange Board of India (SEBI), Hyderabad-based Maytas Infra has announced the pledging of shares by the company’s promoters that include three members of the Raju family who are also promoters of the fraud-ridden Satyam Computer Services.
As per the disclosure, Ramalinga Raju, the former chairman of Satyam, has pledged his entire holding of 48.54 lakh shares translating into 8.25% of the paid up capital of the company.
B Rama Raju (Jr) has pledged his holding of 14.85 lakh shares or 2.52% stake in the Hyderabad-based firm. Another promoter B Nandini Raju has pledged 25.73 lakh equity shares or 4.37% holding in the infrastructure company.
Other promoters of Maytas Infra include – B Teja Raju (Ramalinga Raju’s son) owning a 2.53% stake, SNR Investments and Veeyes Investments (8.92% each) and B Ramalinga Raju HUF (1.13%).