Promoters of the company usually plan to offload their holdings in the company when they believe the shares of the company are overvalued or the company is not in line with its operations or they have to raise funds for other Capex plans and many more.
Here are some of the companies in which the company’s promoters have sold their holding stake worth up to Rs. 18,000 Crores.
Whirlpool of India
Whirlpool of India Limited is engaged in the manufacturing, trading, and marketing of various home appliances like refrigerators, washing machines, air conditioners, and many more.
With a market capitalization of Rs. 15,992 Crores, the shares of Whirpool of India Limited closed at Rs. 1,260.45, down 0.92 percent from its previous day’s close price of Rs. 1,272.10.
Whirlpool Corporation through its subsidiary Whirpool Mauritius recently sold a 24 percent stake in the company for Rs. 4,039 Crores thereby reducing its holding in the company from 75 percent to 51 percent.
Its revenue from operations grew by 17.92 percent from Rs. 1,302 Crores in Q3FY23 to Rs. 1,536 Crores in Q3FY24, accompanied by profits of Rs. 27 Crores to Rs. 30 Crores.
Interglobe Aviation
Interglobe Aviation Limited is engaged in the business of providing airline and allied services such as passenger flights, in-flight services, cargo services, and many more under the brand name IndiGo.
With a market capitalization of Rs. 1,24,040 Crores, the shares of Interglobe Aviation Limited closed at Rs. 3,213.65, down 0.58 percent from its previous day’s close price of Rs. 3232.30.
Rakesh Gangwal the co-founder of InterGlobe Aviation sold a 5.8 percent stake in the company for Rs. 6,786 Crores.
Its revenue from operations grew by 30.26 percent from Rs. 14,933 Crores in Q3FY23 to Rs. 19,452 Crores in Q3FY24, accompanied by profits of Rs. 1,418 Crores to Rs. 2,998 Crores.
ITC
ITC Limited is India’s largest cigarette manufacturer and seller and it operates across businesses like FMCG, hotels, packaging, agribusiness, paper, paperboards, and many more.
With a market capitalization of Rs. 5,19,041 Crores, the shares of ITC Limited closed at Rs. 415.85, up 1.55 percent from its previous day’s close price of Rs. 409.50.
British American Tobacco Plc holds a stake in ITC Limited through its subsidiaries Tobacco Manufacturers (India) Limited, Rothmans International Enterprises Limited, and Myddleton Investment Company Limited sold a 3.5 percent stake in the company for Rs. 17,485 Crores
Its revenue from operations grew by 1.77 percent from Rs. 17,705 Crores in Q3FY23 to Rs. 18,019 Crores in Q3FY24, accompanied by profits of Rs. 5,080 Crores to Rs. 5,407 Crores.
Samvardhana Motherson International
Samvardhana Motherson International Limited is engaged in the business of manufacturing and supplying full system solutions like electrical distribution systems, lighting systems, tools, rubber components, and many more to automotive original equipment manufacturers
With a market capitalization of Rs. 76,063 Crores, the shares of Samvardhana Motherson International Limited closed at Rs. 112.25, up 0.94 percent from its previous day’s close price of Rs. 111.20.
Sumitomo Wiring Systems a promoter of the company offloaded a 4.42 percent stake in the company for Rs. 3,633 Crores
Its revenue from operations grew by 26.73 percent from Rs. 20,267 Crores in Q3FY23 to Rs. 25,698 Crores in Q3FY24, accompanied by profits of Rs. 501 Crores to Rs. 633 Crores.
Tata Consultancy Services
Tata Consultancy Services is an IT services, consulting, and business solutions organization, it offers a wide range of consulting-led, cognitive-powered, integrated portfolios of business, technology, and engineering services and solutions.
With a market capitalization of Rs. 14,36,543 Crores, the shares of Tata Consultancy Services Limited closed at Rs. 3,970.45, down 0.18 percent from its previous day’s close price of Rs. 3,977.55.
Tata Sons Private Limited is planning to sell 23.4 million shares in Tata Consultancy Services Limited for ~Rs. 9,362 Crores to reduce debt levels and fund capex plans
Its revenue from operations grew by 4.04 percent from Rs. 58,229 Crores in Q3FY23 to Rs. 60,583 Crores in Q3FY24, accompanied by profits of Rs. 10,883 Crores to Rs. 11,097 Crores.
Aditya Birla Sun Life AMC
Aditya Birla Sun Life AMC Limited is engaged in the business of offering Mutual Fund services, Portfolio Management services, offshore and real estate offerings, and many more services across its presence in India and abroad.
With a market capitalization of Rs. 13,146.98 Crores, the shares of Aditya Birla Sun Life AMC Limited closed at Rs. 456.35, down 0.72 percent from its previous day’s close price of Rs. 459.65.
Aditya Birla Capital Limited and Sun Life (India) Amc Investments Inc. are going to offload up to 11.50 percent stake in the company through OFS for Rs. 1,481 Crores.
Its revenue from operations grew by 8.59 percent from Rs. 314 Crores in Q3FY23 to Rs. 341 Crores in Q3FY24, accompanied by profits of Rs. 166 Crores to Rs. 209 Crores.\
Written by: Bharath K.S
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