Promoter group Neelkamal Tower releases pledge on 31.8 lakh shares
ADVENTHTL · price
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Neelkamal Tower Construction LLP (promoter group) released the pledge on 31,80,433 equity shares of Advent Hotels International on 18 Aug 2026. Pre-event, 41,80,433 shares (62.56 percent of their holding) were encumbered; post-release, only 10,00,000 shares remain pledged. The release follows full repayment of the HDFC facility by borrower MIG Bandra Realtors, after a demerger scheme from Valor Estate (formerly DB Realty). Neelkamal Tower holds 12.39 percent of Advent Hotels.
Pledge release cuts encumbrance on promoter holding from 62.56 percent to about 15 percent, easing financial stress and improving share flexibility.