promoter stake selling: Promoters continue to pare stakes even as stock prices fall

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Mumbai: Few promoters seem to be in a mood to shore up their ownership in companies amid the stock market downturn. On the contrary, they have trimmed their stakes further since October, continuing their selling spree from most of the earlier part of 2024.

Since October 1, when the market began declining, promoters of nearly 120 mid- and small-cap companies have sold shares worth ₹7,000 crore.

Promoters Continue to Pare Stakes Even as Stock Prices Fall

“The promoter selling since October is not out of the ordinary,” said Sahil Shah, chief investment officer at Equirus. “This happens even in subdued markets, where promoters and private equity funds liquidate holdings due to regulatory requirements, fund lifecycle completion, debt reduction at the promoter level, or personal reasons such as diversification or funding new ventures.”

In this period, founders of 80 firms mopped up shares to the tune of ₹700 crore.

In the September quarter, promoters of nearly 180 companies cashed out holdings worth ₹38,000 crore amid the record-breaking run in the stock market as share valuations were considered elevated after the three-year bull run. Company founders or funds part of the promoter group sold shares worth more than ₹1,00,000 crore in 2024.

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