India Inc seems to be turning averse to the idea of pledging shares. The percentage of pledged promoter holdings declined to 2.83 per cent during the March 2019 from 2.98 per cent in the preceding quarter.
Outstanding promoters pledged shares were Rs 1.95 trillion, 1.38 per cent of the market capitalisation, down from 1.47 per cent a quarter ago. Industry experts say after recent events at Essel Group and Anil Ambani-led Reliance Group have made both promoters and lenders cautious when it comes to borrowing and lending money through share pledging. Investors too have been punishing ...
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