The Surge in Promoter Stake Sales Raises Concerns
The surge in stake sales coincides with a notable increase in bulk and block trades in the secondary market. Despite a 10% dip in the number of issuances, these trades are at a record high, indicating a shift in ownership and significant realignment of portfolios. Siddhartha Bhaiya, MD and CEO of Aequitas Investment Consultancy Pvt., expressed concern about the frequency of Qualified Institutional Placements (QIPs) and block deals happening post substantial stock appreciation, describing the situation as “scary” for the broader markets.