Promoter share pledge rises to 1.61% in October-December quarter

Promoters in 87 companies in the BSE 500 Index had at least some portion of their holdings pledged at the end of Q3FY23. Of this, only 17 had more than 25 per cent of their promoter holdings pledged

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Photo: Bloomberg

Samie Modak
Share pledging by promoters rose during the October-December quarter (third quarter, or Q3) of 2022-23 (FY23) in the midst of a 6 per cent gain in the benchmark Nifty index.

According to a report by Kotak Institutional Equities (KIE), the value of promoter-pledged holdings - as a percentage of promoter holding - rose to 1.61 per cent in Q3FY23, from 1.57 per cent in the July-September quarter of FY23.

The value of total pledged holdings by promoters stood at Rs 2.2 trillion, or 0.83 per cent of the total market capitalisation of the BSE 500 Index.

“Promoters of major Indian

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First Published: Feb 20 2023 | 6:15 AM IST

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