Promoter selling in 2024 tops Rs 1.5 lakh crore; highest in 5 years

Leveraging gains on the D-Street, promoters sold shares worth Rs 1.5 lakh crore in 2024, their highest-selling on record in 5 years. In 2023, selling by promoters totalled Rs 1.26 lakh crores. Through the offer for sale (OFS) route, promoters and private equity (PE) fund together mopped up Rs 95,210 crore.

The shareholding of private Indian promoters, as a share of the total market capitalisation of firms listed on the National Stock Exchange, declined to 32.8 per cent as at the end of September. This was 36.4 per cent in December 2021.

Apart from promoters,  foreign portfolio investors (FPIs) also sold shares aggressively with their share declining to 17.7 per cent from the previous 19.7 per cent.

Promoter selling over past 5 years 

Year                  Total Selling (Cr)
2024                  1.49 Lakh
2023                   1.26 Lakh
2022                    62,828
2021                    86,969
2020                  1.04 Lakh

Source: Primedatabase

Top 5 Selling in 2024-
Company                   Promoter                     Value of Shares Sold (Cr)
Indigo                       Rakesh Gangwal                         16335
Indus Towers          Vodafone Telecom                         8450
Sanofi Consumer   Hoechst GMBh                              6927
Mphasis                    Bcp Topco                                   6736
Vedanta                  Finsider international                     5922

Rakesh Gangwal topped among the list of promoters who made the highest selling this year to the tune of Rs 16,335 crore. As per news reports, after a share sale in August, Gangwal-the promoter and co-founder of Interglobe Aviation likely exited the company.

Vodafone Plc aiming to repay debt sold its stake in Indus Towers for Rs 8,450 crores. The divestment marked Vodafone's complete exit from the telecom infrastructure company.