The controlling shareholders of smaller and mid-sized companies are reducing their stakes at levels seldom seen since the 2008 global financial crisis.
Over 20 per cent of companies listed on BSE MidCap and BSE SmallCap have seen a decline in promoter holdings for five consecutive quarters, reveals data from DSP Mutual Fund, shared with Business Standard. In the latest June quarter, the figure stood at 22.6 per cent. Similar levels were last seen in FY07. Both the midcap and smallcap indices reached all-time highs on September 24.
Further analysis by Business Standard, using Capitaline data, shows lower
