Promoters of Adlabs are losing their remaining holding of the company to lenders as more shares got invoked by lenders in January and February. Over 6% of total shares were invoked by lenders since the beginning of February, with more added this week.
Promoter shareholding in the company had fallen from 47.5% to 39.6% in the December quarter, and with lenders taking over even more promoter pledged shares in the past two months, that percentage held by promoters is set to fall even further.
The company's share price has fallen over 21% in the past three months.