Value of pledged shares dip 13%

New Delhi: The value of shares pledged by the promoters of BSE-listed companies dropped nearly 13 per cent to `2.25 lakh crore at the end of May, according to exchange data. The worth of promoters’ pledge holding stood at `2.58 lakh crore as on April 30, 2018. Sharepledging is typically done by promoters to raise funds either for the same company or for financing other projects. Decline in the level of share-pledging may indicate scaling down in stress as high pledging levels are not considered as a good sign.