Synopsis:
ITI, and the other three stocks that have a high promoter holding which increases the chances for these companies to come up with an Offer For Sale (OFS) soon to maintain SEBI’s requirements.
An Offer for Sale (OFS) happens when a company’s promoters or major shareholders decide to sell a portion of their shares on the stock market. This is often done to comply with SEBI’s minimum public shareholding requirements or to raise some funds.
It’s particularly common when promoter holdings are quite high, typically over 75 percent, since SEBI mandates that companies must keep at least 25 percent of their shares in public hands. While an OFS doesn’t directly impact a company’s day-to-day operations, it does boost liquidity and opens the door for more investors to get involved.
1. Punjab & Sind Bank
Punjab & Sind Bank provides deposits, savings, and current accounts, along with a variety of loans for housing, auto, MSME, agriculture, and personal needs. It also offers insurance, lockers, and government scheme services. The bank has strong digital platforms like internet/mobile banking and numerous features.
The promoter holding increased from 79.62 percent in Mar 2017 to 85.56 percent in Mar 2018, then surged to 98.25 percent by FY22–FY24, and now stands at 93.85 percent as of Mar and Jun 2025, exceeding SEBI’s 75 percent limit and may require an OFS.
2. Bajaj Housing Finance
Bajaj Housing Finance Limited provides home and commercial property loans to buy, construct, and renovate. The company extends loans against property, loans for day-to-day business operations, and developer loans. Additionally, the firm is involved in lease rental discounting and is a partner of REITs, funds, and large companies.
The promoter holding stood at 88.75 percent in Mar 2025 and slightly eased to 88.70 percent in Jun 2025, remaining above SEBI’s 75 percent cap, which may require an OFS.
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3. Indian Railway Finance Corporation
Indian Railway Finance Corporation Limited (IRFC), founded in New Delhi in 1986, is a non-banking finance and infrastructure finance firm. IRFC mainly leases Indian Railways’ railway infrastructure and rolling stock assets. IRFC mobilizes funds in the financial markets to fund these assets and the expansion and modernization of India’s railway network.
The promoter holding remained steady at 86.36 percent from Mar 2021 through Jun 2025, consistently above SEBI’s 75 percent limit, indicating a possible need for an OFS.
4. ITI
ITI Limited is in the business of manufacturing, trading, and servicing telecommunication equipment in India. Their product lineup includes switching and transmission systems, smart meters, IoT devices, defence communication tools, and Wi-Fi solutions. Additionally, they provide network solutions, data center services, and take on turnkey and defence projects.
The promoter holding declined from 94.86 percent in FY17 to around 90 percent by FY19 and has stayed close to that level till June 2025, which is still above SEBI’s 75 percent cap, indicating a possible need for an OFS to comply with regulations.
Written by Satyajeet Mukherjee
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