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Promoters' Pledged Holding Falls In April-June, Says Kotak

The value of the promoter pledged holdings fell to 1.5% in the June 2022 quarter from 1.7% in the March 2022 quarter, per Kotak.

Swastika Mukhopadhyay

An employee counts rupee currency notes inside a private money exchange office in New Delhi. (Photo: Reuters) 

The proportion of shares pledged as a collateral against loans by Indian promoters declined in the quarter ended June, according to Kotak Institutional Equities Ltd.

The percentage of ownership pledged by promoters of BSE 500 companies stood at 1.5% in the three months to June, according to a report by the research house. That's down from 1.7% in the previous quarter.

The of shares pledged by promoters stood at Rs 1.7 lakh crore, about 0.77% of the total BSE-500 Index’s market capitalisation, it said.

Percentage Of Pledged Promoter Holdings Quarter-Wise

X

Aggregate pledged shares as % of total promoter holding and of total holding in value terms. (Source: Prime Database, BSE, NSE, Kotak Institutional Equities. )

Aggregate pledged shares as % of total promoter holding and of total holding in value terms. (Source: Prime Database, BSE, NSE, Kotak Institutional Equities. )

Promoters of 81 companies in the BSE-500 Index have pledged part of their holdings as of the June 2022 quarter, the report said. Only three companies had more than 80% of their promoter holdings pledged.

X

Number of companies with 25% to 100% pledged shares. (Source: Prime Database, BSE, NSE, Kotak Institutional Equities.)

Number of companies with 25% to 100% pledged shares. (Source: Prime Database, BSE, NSE, Kotak Institutional Equities.)

Top Three Companies With Pledged Holdings

  • Thyrocare Technologies Ltd.: Pledged Rs 2,170 crore.

  • Max Financial Services Ltd.: Pledged Rs 3,530 crore.

  • Suzlon Energy Ltd.: Pledged Rs 890 crore.

Top 3 Companies With Biggest Fall In Pledged Holding

  • Lemon Tree Hotels Ltd.: Pledged Rs 170 crore.

  • Adani Power Ltd.: Pledged Rs 19,250 crore.

  • Sun Pharmaceutical Industries Ltd.: Pledged Rs 4,400 crore.

Top 3 Companies With The Biggest Rise In Pledged Holding

  • Medplus Health Services: Pledged Rs 1,990 crore.

  • Sterling & Wilson: Pledged Rs 1,750 crore.

  • Jindal Steel & Power: Pledged Rs 9,580 crore.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.

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WRITTEN BY
Swastika Mukhopadhyay
Swastika Mukhopadhyay is a desk writer at BQ Prime, who covers markets and ... more
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