A different kind of quiet quitting

Policy loopholes are encouraging many promoters to exit their companies stealthily, raising the question: Should promoters be in control after pledging their shares?


Ajay TyagiCKG Nair
The shareholding pattern filed in June by 1,440 NSE-listed companies on the exchange’s portal, reveals that promoters of 24 companies have pledged 100 per cent of their equity holdings. Further, there are 78 companies whose promoter pledge is between 76 and 99 per cent and 57 companies, where the percentage is between 51 and 76. Together, in 159 out of the 1,440 companies, promoters have pledged more than 51 per cent of their holding. There are 82 companies with 26 per cent or more pledging. Most of the rest, except public sector units, also have some percentage of pledge, going up to 26 per cent. 

According to the Oxford English dictionary, pledge means: (1) A solemn promise or agreement. (2)
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First Published: Nov 02 2022 | 10:17 PM IST

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