The former chief investment officer of HDFC AMC discusses why promoters and MNCs could be reducing stake in companies they own and what it means for retail investors
Promoters of domestic companies have diluted stake to the tune of $10.5 billion in the first half of the current calendar year. This is the highest in five years and is expected to cross $12.4 billion in the coming months. As per data on stock exchanges, the promoters of 37 listed companies offloaded shares owned by them to domestic and foreign institutional investors.