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Promoter pledged holdings have been on a decline amid the ongoing market selloff. According to an analysis by Kotak Institutional Equities of the pledged holdings of BSE-500 companies, the pledged holdings as a percentage of promoter holdings declined to 0.84 per cent in the December 2024 quarter from 0.87 per cent in the September 2024 quarter. The value of pledged promoter holdings stood at ₹1.63 trillion, representing just 0.4 per cent of the BSE-500 companies' total market capitalisation. The percentage of promoters' pledged holdings has declined for six consecutive quarters.
The number of companies with outstanding promoter pledges fell to 69 from 77 reported a year ago. Among Nifty 50 companies, those with over 5 per cent pledged promoter holdings include Apollo Hospitals, Asian Paints, IndusInd Bank, and JSW Steel. In the BSE 500 universe, companies where pledged promoter holdings declined include Swan Energy, Krishna Institute of Medical Sciences, Sun Pharma Advanced Research, Aurobindo Pharma, and Chambal Fertilisers. The decline in promoter pledging reflects a cautious approach amid market volatility. Promoters are being more selective about pledging shares to avoid potential complications from margin calls and stock price declines, say market players.
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