5 Stocks with the Highest Stake Sales by Promoters in 2025

Amid elevated market valuations, promoters have stepped up stake sales across listed entities, with domestic investors emerging as the primary buyers.

Promoter selling has broken previous records, reaching Rs 1.5 trillion (tn) in 2025, surpassing last year’s Rs 1.4 tn. This also marked the third consecutive year in which annual sales exceeded Rs 1 tn.

This wave of selling played out through 352 block and bulk deals totaling nearly Rs 1.3 tn, along with over Rs 180 billion (bn) raised via the offer-for-sale route on stock exchanges.

As a direct outcome, private promoter shareholding has slipped to an eight-year low of 40.58%.

Private equity and venture capital investors also sold meaningfully, selling shares worth about Rs 760 bn. It’s consistent with their medium-term investment horizon and time-bound exit strategies.

Within this broader churn, five companies stand out, where promoter stake sales were among the largest on record.

#1 Bharti Airtel

First on the list is Bharti Airtel.

Bharti Airtel is India’s second-largest telecommunications company. The company has a well-diversified portfolio spanning mobile, broadband, digital TV, and B2B services across India and Africa.

Mobile services are the largest segment, accounting for 54% of revenue. Its average revenue per user (ARPU) is the highest in the industry at Rs 256.

Its 5G user base has grown to 167 million (m), and 5G traffic now accounts for over 40% of total network traffic. Africa’s business accounts for 26% of total revenues.

#2 Interglobe Aviation

Second on the list is Interglobe Aviation (Indigo).

Indigo is India’s largest domestic carrier. As of 30 September 2025, IndiGo had a fleet of 417 aircraft, including 180 A320neo and 153 A321neo planes.

From a financial perspective, revenue rose by 9.3% YoY to Rs 185.6 bn in Q2 FY26. However, it reported a net loss of Rs 26.1 bn, due to a Rs 28.9 bn foreign exchange loss. Excluding the impact, IndiGo reported a profit of Rs 1 bn.

Within key performance indicators, Revenue Per Available Seat Kilometer rose 2.3% to Rs 4.55, while passenger traffic increased 4% to 28.8 m.

Indigo co-founder, Rakesh Gangwal, and his family have sold stakes worth Rs 144.97 bn.

These sales are part of a systematic exit plan that began in 2022 following governance tensions between Gangwal and co-founder Rahul Bhatia.

Shareholding Pattern

Company	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Promoters (%)	49.29	49.27	49.27	43.54	41.58

_{Source: Screener.in}

Looking ahead, IndiGo plans to increase its international footprint, which now includes 43 destinations. The airline aims to have 30-40% of its total Available Seat Kilometers (ASKs) come from international routes by 2030.

It will invest Rs 10 bn over the next few years to build a state-of-the-art Maintenance, Repair, and Overhaul facility in Bengaluru to perform heavy maintenance in-house, reducing its current high dependency (90-95%) on third-party providers and lowering long-term costs.

The company also aims to have 30-40% of its fleet owned or on finance leases by 2030, moving away from an operating-lease-heavy model.

That said, IndiGo is currently facing a severe short-term business disruption, including potential compensation payments or legal issues, which could impact its finances in the future.

#3 AWL Agri Business

Third on the list is AWL Agri Business.

AWL Agri Business, formerly known as Adani Wilmar, is one of India’s largest and youngest packaged food companies. The company is a joint venture between the Adani Group and Wilmar International.

Edible Oil is the company’s largest segment, where it holds the #1 market position in India. Its flagship brand, Fortune, is a household name with a brand size exceeding Rs 250 bn.

The portfolio includes soybean, palm, mustard, sunflower, rice bran, groundnut, and cottonseed oils.

This fast-growing segment includes staples such as wheat flour (atta), basmati rice, pulses, besan, sugar, soya nuggets, and poha. AWL is the #2 player in wheat flour and the #3 player in basmati rice in India. AWL also leads in oleochemicals in India and is a leading exporter of castor oil.

Adani Commodities has sold 10.4% of its stake, bringing its stake down to 20% in September 2025. In 2025, promoters have sold stakes worth Rs 110.64 bn.

This comes at a time when the Adani Group is directing its capital towards core infrastructure and industrial platforms, including energy, utilities, transport, and airports.

#4 Vishal Megamart

Fourth on the list is Vishal Megamart.

Vishal Mega Mart is a diversified value retailer and is among India’s top three offline-first diversified retailers by retail volume. It serves customers in the middle- and lower-middle-income segments. It has a pan-India presence with 742 stores across 493 cities in 30 states and union territories.

North India accounted for 37.6% of revenue, followed by East (31.6%), South (22.6%), and West (8.2%).

Vishal Megamart’s promoters have sold stakes worth Rs 101.2 bn. In 2025, Samayat Services LLP, the promoter entity, which is largely owned by private equity firm Kedaara Capital, sold 21.91% of its stake to reduce its promoter holding.

From a financial perspective, revenue increased 22.4% YoY to Rs 29.8 bn in Q2 FY26, driven by 12.8% same-store sales growth. Net profit surged almost 46.5% to Rs 1.5 bn.

Private labels accounted for 73.6% of the revenue. These brands offer a price advantage of 20-50% compared to third-party brands.

Shareholding Pattern

Company	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Promoters (%)	76.02	74.55	54.22	54.11

_{Source: Screener.in}

The company has about 157 m registered loyalty customers, contributing roughly 95% of the revenue.

Looking ahead, it aims to diversify in regions where its presence is limited, such as Kerala, Gujarat, and Maharashtra, and also plans to enter Tamil Nadu in the future.

A pilot program with nine small-format stores is underway in towns of around 50,000 population.

The company will continue to invest in its quick commerce and hyperlocal delivery capabilities, which already reach 460 cities.

The company is adding more fashionable and higher-quality items to encourage existing customers to buy higher-priced products. This could help support profit margins in the future.

#5 Sagility

Fifth on the list is Sagility.

Sagility is a business process management service provider specialising in the healthcare sector. The company has a strong client base, including hospitals and insurance companies in the US market.

Its services extend across the healthcare value chain for payers and providers. In Q2FY26, the payer vertical remained the largest contributor, accounting for 88.5% of total revenue.

The company offers healthcare services, including case management, diagnostics, member engagement, claims cost control, and revenue cycle management.

In 2025, the Netherlands-based promoter, Sagility B.V., sold its 15.01% stake to meet the minimum public shareholding requirement of 75%. Total stake sold in 2025 stood at Rs 63.41 bn.

From a financial perspective, in Q2 FY26, revenue increased by 25.2% YoY to Rs 16.6 bn, with 16% organic growth. Net profit increased 84% to Rs 3 bn, and the net margin stood at 26.2%.

Shareholding Pattern

Company	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Promoters (%)	82.39	82.39	67.38	67.38

Source: Screener.in

Looking ahead, the company has increased its annual revenue guidance in constant currency to 21% plus, up from the previous guidance of 20%. Margins have been revised to 25%, up from 24% earlier. The management expects to sustain organic growth in the low to mid-teens on a constant-currency basis.

Sagility is moving towards a consulting-led approach to modernise its client delivery framework. According to the latest report, the company has deployed 25 different AI use cases across nine clients.

The company is also moving towards larger, more complex, end-to-end deal structures. These include ‘transform-in-place’ models and per-member-per-month commercial structures, which reduce risk for payers compared to traditional billing.

It’s also on track to repay all of its debt by the end of FY27, which could improve profitability.

Conclusion

Promoter selling in 2025 reflects a market shaped by elevated valuations, portfolio rebalancing, and time-bound exits rather than broad-based stress in underlying businesses.

In most cases, stake sales coincide with operational strength, balance sheet improvements, or strategic capital reallocation.

For investors, the key lies in separating signal from noise. It’s important to understand why promoters are selling and whether fundamentals continue to support long-term compounding beyond short-term ownership churn.

Investors should evaluate the company’s fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

Happy investing.

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