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Promoter Share Sales Here To Stay In 2020
2019 was a year when the promoters of many blue-chip companies put up their family silver for sale. Will 2020 be a repeat?
09 Jan 2020, 12:08 PM IST
After a year that saw some of India’s top business tycoons lose control of their companies as lenders invoked shares offered as collateral against debt, 2020 could see more of that.That’s because controlling shareholders of at least 50 Indian companies have pledged nearly all their holdings, according to data on the BSE. And they contribute more than half of Rs 2.21 lakh crore worth of shares pledged by Indian promoters as on Jan. 6....
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