Max Financial and GMR Airport among 10 companies with highest promoter pledged holdings

May 09, 2024, 10:01:00 AM IST1/11

Pledge Tracker

While the March quarter witnessed a marginal decrease in pledged promoter holding to 1.10%, down from 1.17% in December 2023, the percentage of promoters’ pledges holding of some companies went up as high as 69% as of March 2024, states a report by Kotak Institutional Securities.Top 10 companies that stand at highest pledged holdings by promoters as a percentage of their holding, compiled by Kotak Equities, are listed below:

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Max Financial Services

The percentage of promoters’ holdings pledged in Max Financial stand at 69.2% as of March 2024.

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GMR Airports

At the end of Q4FY24, 58.2% of the total promoters’ holding in GMR Airports has been reported to be pledged.

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Medplus Health Services

The pledged promoter holding of Medplus stood at 54.2% at the end of March 2024, which is an increase from 50.5% for the year ended March 2023.

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India Cements

From 45.5% holdings pledged by promoters in December 2023, the total percentage of promoters’ pledged shares stood at 46.2 in March 2024.

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IndusInd Bank

IndusInd bank has consistently pledged 45.5% of its promoter holding since last year.

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Sterling and Wilson

The pledged share of promoters of Sterling & Wilson has reduced to 37.2% from 39.5% last year, however it stands at 6th place in terms of highest pledged promoter holdings.

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Chalet Hotels

As of March 2024, the pledged holding of the promoters’ shares stands at nearly 40%.

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Kalpataru Projects

Promoters’ pledges holding stands at 31.5% for Kalpataru in March quarter, down from 42.5% in December 2023.

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Indus Towers

Indus Towers’ promoters’ pledged holding stands consistent at 30.5% since last year.

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Chambal Fertilizers

Chambal Fertilizers pledged promoter shareholding at 25.2% at the end of March 2024 down from 26.3% in March 2023.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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