Adani Ports, Apollo Hospitals among Nifty-50 companies with highest promoter pledged shares

What is pledging of shares?

Pledging of shares is an arrangement in which the promoters of a company use their shares as collateral to fulfil their financial requirements

More than 5% of pledged promoter holdings

According to Kotak Institutional Equities, Adani Ports & SEZ (17.3%), Apollo Hospitals (16.4%), Asian Paints (7.6%), IndusInd Bank (45.5%) and JSW Steel (17.6%) were the Nifty-50 companies with more than 5% of pledged promoter holdings

Largest pledgers

Promoters of Max Financial Services and Thyrocare Technologies were the largest pledgers with more than 90% of their holdings committed

Decline in pledged holdings

The promoter's pledged holdings declined the most in Motherson Sumi Wiring, Deepak Fertilisers, GMR Airports, Granules India and 360 One

Pledged holding analysis

The analysis of the pledged holdings of BSE-500 stocks showed that the value of the promoter pledged holding as a percentage of the promoter holding increased to 1.61% in the December 2022 quarter from 1.57% in the September 2022 quarter

Pledged holding analysis

The report by Kotak Institutional Equities revealed that the promoters of 87 companies in the BSE-500 Index have pledged part of their holdings in the December 2022 quarter

Is pledging of shares bad?

Kotak Institutional Equities clarified that pledging of shares does not necessarily imply that a company or a promoter is under financial stress; banks (lenders) could have sought additional security in the form of promoter shares

Kotak Institutional
Equities’ report

The report compared changes in pledged holdings between September 2022 and December 2022 quarters. Changes in pledged holdings after December 2022 have not been incorporated in this report


The stocks mentioned in the story are for information purposes only. Investors or market participants should consult their financial advisors before taking any position

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Story by: Tanya Aneja
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