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Over 6% of promoter holdings in BSE 500 companies pledged

Promoters of 116 companies pledged their holdings in December quarter in the BSE-500 index compared to 114 in September 2018 quarter

February 23, 2019 / 07:33 AM IST
 
 
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The percentage of pledged promoter (by majority shareholder) holdings in BSE 500 companies was steady overall in the December 2018 quarter in comparison to the September quarter, showed a Kotak Institutional Equities report.

The percentage of pledged promoter holdings was at 6.7 percent in the December quarter similar to that of September 2018. Outstanding promoters pledged shares worth Rs 1.96 trillion, which is about 1.47 percent of the total BSE-500 index’s market capitalization in December 2018, said the report.

Promoters of 116 companies pledged their holdings in the BSE-500 index compared to 114 in September 2018 quarter. Out of 116, 30 companies saw an increase in pledge holdings by 2-21 percent in the December quarter (QoQ).

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