Outlook January 14, 2021 22:27 IST Prism International''s encumbered shares holding with Axis Finance comes down to 3.93 pc 1970-01-01T05:30:00+0530

Mumbai, Jan 14 (PTI) Prism International Pvt Ltd''s total holding of encumbered shares with Axis Finance has come down to 3.93 per cent of the total capital from 5.37 per cent, following the release of 18 lakh encumbered equity share, the company said in a regulatory filing.

A total of 67 lakh shares of Prism International, the parent of logistics firm Gateway Distriparks Ltd (GDL), were pledged with Axis Finance Ltd, it said in the filing.

"Due to increase in the Margin Money Value of the security provided, Axis Finance Ltd has released the encumbrance on 18 lakh equity shares out of the 67 lakh equity shares offered as security for the term-loan availed from Axis Finance Ltd," Prism International Pvt Ltd said in the filing.

After the release of these pledge shares on January 13, the holding of encumbered shares has come down to 3.93 per cent from 5.37 per cent of the total share capital, the company said.

Gateway Distriparks Ltd operates in all three e-verticals of the logistics space -- Container Freight Stations, Inland Container Depots, and Cold Chain Storage and Logistics.

GDL operates operates six container freight stations with two at Nhava Seva and one in Chennai, Krishnapatnam, Kochi and Visakhapatnam. PTI IAS HRS