TCS, Wipro, D-Mart: Shareholding norm rejig to impact 1,174 companies

Finance minister has asked SEBI to consider to reduce maximum promoter shareholding from current level of 75 per cent to 65 per cent. Meaning thereby, minimum public shareholding for listed companies has to be increased from current level of 25 per cent to 35 per cent.

Based on the latest shareholding data available, our research shows 1,174 listed companies have promoter shareholding above 65 per cent. In other words, 25 per cent of the entire universe of listed companies (around 4,700 companies) will have to go through off-loading promoter stakes to meet this requirement.

At the current market prices, the total quantum of sale that needs to be done by these 1,174 companies works out to about whopping amount of Rs 3,87,000 crore.