Promoters trimmed pledges in Q1 as markets down 10%, holdings down 1.5%

Share pledging by promoters declined during the April-June quarter (first quarter, or Q1) of 2022-23 (FY23) as markets fell close to 10 per cent.

According to a report by Kotak Institutional Equities (KIE), promoter pledged holdings - as a percentage of promoter holding - dropped to 1.5 per cent in Q1FY23, from 1.71 per cent in the January-March quarter (fourth quarter, or Q4) of 2021-22 (FY22).

The value of promoter pledged holdings stood at Rs 1.7 trillion, 0.77 per cent of the market capitalisation (m-cap) of BSE 500 companies.

In the preceding quarter (Q4FY22), the value of pledged