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August 27, 2001
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Money > Business Headlines > Report August 27, 2001 |
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FIs hold 8% shares of listed firmsBS Markets Bureau Financial institutions held only eight per cent of shares of all listed companies, while public shareholders held 18 per cent stake in companies, according to a study conducted by the National Stock Exchange. However the combined non-promoter holding in companies is more than 50 per cent. This is because of the shares held by foreign institutional investors, mutual funds, overseas corporate bodies, private corporate bodies and others who hold a substantial 26 per cent stake in the companies. On an average however promoter holding in companies is around 49 per cent with Indian promoters holding the bulk at around 40 per cent, while foreign promoters hold slightly more than five per cent and around three per cent held by persons acting in concert. Rather strangely, while Securities and Exchange Board of India has allowed companies in the media sector to have a 10 per cent public float, more than 62 per cent shares are with private corporate bodies (this comes under non-promoter holding) and promoters holding is only slightly less than 8 per cent. Companies in the IT and Telecom sector seem to have taken advantage of the relaxation and promoter holding is around 44 per cent and 54 per cent, respectively. Domestic FIs hold the maximum stake in the finance sector (18.3 per cent) and infrastructure companies (15.77 per cent). FIIs hold maximum stake in the IT sector (14.53 per cent) and telecom sector (13.71 per cent). In fact foreign institutional investors seem to have a low preference for FMCG companies where their shareholding is around 0.2 per cent. Mutual funds shareholding pattern is almost uniform across all sectors though at the end of June they were more weighted in pharma and telecom sectors. The shareholding of the Indian public is more predictable in the case of the FMCG sector -- they hold 34 per cent (the highest) in FMCG companies while a low 5.55 per cent in telecom sector. Private corporate bodies (apart from their high shareholding in media companies) hold between 2 and 10 per cent shares in companies across all sectors. Foreign promoters' stake is maximum in telecom companies at 17.69 per cent. Powered by YOU MAY ALSO WANT TO READ:
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