Promoter ownership in companies listed on the National Stock Exchange (NSE) continued its downward trajectory in the quarter ending June 2025, reaching a nine-quarter low of 50%, marking the fourth consecutive quarterly decline.
This represents a 1.6 percentage point (PP) decrease over the past year. Despite this, the absolute value of promoter holdings grew by 11.5% quarter-on-quarter (QoQ) to Rs 228.5 lakh crore.
The Nifty 50 index saw an even sharper decline, with promoter ownership falling for the fifth consecutive quarter to a near 23-year low of 40.2%, while the broader Nifty 500 universe saw promoter holdings drop to a 22-quarter low of 49.3%.
The primary driver behind the consistent fall in promoter ownership has been private Indian promoters. In the broader NSE-listed universe, their share declined for the third consecutive quarter, down 26 basis points (bps) QoQ to a 22-quarter low of 32.2%.
In the Nifty 50, their share fell 14 bps to a five-year low of 28.4%.
In 2025, Indian company insiders sold shares worth ₹25,500 crore while buying only ₹3,860 crore between January 1 and September 16, resulting in net selling of ₹21,600 crore, according to Nuvama Alternative Quantitative Research. The selling reflects caution amid market volatility, global trade tariffs, geopolitical conflicts, and domestic uncertainty.
Top insider sales included Bajaj Finserv (₹5,502 crore), Authum Investment & Infrastructure (₹2,473 crore), JB Chemicals Pharma (₹1,628 crore), Apollo Hospitals (₹1,479 crore), and ZF Commercial Vehicle (₹792 crore). On the buying side, Jindal Steel Power led with ₹997 crore, followed by Indus Towers Limited (₹708 crore) and Jindal Stainless (₹352 crore).
In September alone, notable insider sales were Voltamp Transformers (₹597 crore), Aditya Vision (₹346 crore), Dr. Lal Path Labs (₹133 crore), Safari Industries (₹45 crore), Sigachi Industries (₹27 crore), Usha Martin (₹25 crore), Moschip Tech (₹22 crore), Vishnu Prakash R Punglia (₹20 crore), Reliance Industries (₹17 crore), Mahindra & Mahindra (₹16 crore), JB Chemicals & Pharma (₹16 crore), and Z-Tech (India) (₹9 crore).
September insider purchases were led by Indus Towers Limited (₹487 crore), Jindal Stainless (₹113 crore), Paisalo Digital (₹82 crore), Veedol Corporation (₹66 crore), Tourism Finance Corp (₹56 crore), and Choice International (₹20 crore).
Direct non-promoter ownership by individual investors in NSE-listed companies inched up 9 bps QoQ to 9.6% in June 2025, even as individual investors recorded net outflows of ₹13,136 crore during the quarter. The increase aligns with the outperformance of mid- and small-cap stocks, a segment where individual investors have steadily increased exposure in recent years.
When including both direct and indirect holdings (via mutual funds), individual investors now own 18.5% of the total market capitalisation, up 30 bps QoQ (₹84.7 lakh crore). This marks the third consecutive quarter where individual ownership surpassed foreign portfolio investors (FPIs), a milestone first achieved in 2024 after nearly 18 years.
In summary, India’s equity ownership landscape is undergoing a notable shift. While promoter stakes—especially those of private Indian promoters—continue to decline, individual investors are steadily increasing their presence, particularly in mid- and small-cap segments.
For android only