The pledging of shares by promoters in the NSE-listed companies went up marginally during FY16. As per the data compiled by Prime Database, the percentage of promoter holding pledged in companies (which already have pledged some of their holdings) went up to 45.98% at the end of FY16 – nearly 1 percentage points(ppt) rise on year-on-year (y-o-y) basis.
However the total value of pledged shares witnessed a slight dip due to decline in the equity markets. The total value of pledged shares has came down to Rs 1.78 lakh crore by the end of FY16 from Rs 1.81 lakh crore as on March 31,2015. The benchmark Sensex declined 9.36% during the corresponding period, data showed.
During the financial year, the largest pledge creation transaction was that of Vinod Shantilal Adani, promoter of Adani Ports & Special Economic Zone, who pledged 12.82 crore shares to IDBI Trusteeship. The value of this pledge was Rs 3,999 crore, Prime data showed.