Promoters cut stake for 4 straight quarters in 36 firms; Ather Energy, Axis Bank, CreditAccess Grameen among key names

Angel One, Axis Bank, Oracle Financial Services Software, UNO Minda, HDFC Asset Management Company, Nippon Life, Sai Lifesciences, ICICI Prudential Life Insurance Company, Dixon Technologies, SBI Life Insurance Company, Ather Energy, and Vishal Mega Mart, among others, are the 36 companies in the NIFTY500 index that have seen their promoters consistently reduce their stakes over the last four quarters, data from Ace Equity showed.

A reduction in promoter shareholding can stem from various factors and isn’t necessarily a sign of trouble. While it might raise questions about the promoter’s confidence in the company’s future, it is important to consider other possibilities, said Kunal Harsh, an independent market analyst.

Promoters may dilute their holdings as part of long-term financial planning, to diversify their investment portfolio, or to raise capital for new business ventures or personal commitments.

In some cases, regulatory or restructuring requirements may also necessitate stake changes. Therefore, such moves should be viewed in context rather than being interpreted as inherently negative, Harsh added.

Take a look at the list.

Axis Bank

The country's third-largest private sector lender has seen its promoters reduce their stake in the bank to 7.87% from the 8.14% stake they owned at the end of the previous quarter. The private lender's promoters have been reducing their stake from 8.17% they owned at the end of the same quarter last year.

Ather Energy

The electric two-wheeler maker's promoters have reduced their stake in the company to 40.62% at the end of the first quarter of the current financial year from the 40.77% stake they owned at the end of the March quarter.

The promoters of the Bangalore-based company owned a 42% stake in the first quarter of the previous financial year.

Hero MotoCorp announced last month that it had invested an additional ₹1,000 crore into the EV maker.

Hero MotoCorp directors on July 14 approved the additional investment, and in exchange, Ather Energy will issue equity shares or other eligible convertible securities on a preferential basis subject to the necessary regulatory approvals.

At the end of the June quarter, Hero MotoCorp held a 29.48% stake in Ather Energy on a fully diluted basis.

CreditAccess Grameen

The microfinance lender's promoters reduced their stake in the company to 66.21% at the end of the June quarter from 66.24% they owned at the end of the March quarter.

The promoters owned a 66.43% stake in the company at the end of the first quarter in the corresponding period last year.

CreditAccess Grameen's net profit in the April-June period surged by 720% to ₹493 crore in Q1 FY27 as compared to the ₹60 crore profit logged in the same period last financial year.

Its revenue from operations advanced 22% to ₹1,714 crore.

The company’s assets under management advanced 16% to ₹30,319 crore from ₹26,055 crore, and disbursements during the quarter advanced 12% to ₹6,107 crore.

Amber Enterprises

The country's leading room air conditioner maker's promoters have reduced their stake in the company to 38.09% at the end of the first quarter of the current financial year from the 38.17% stake they owned at the end of the March quarter.

The promoters owned a 38.22% stake during the June quarter of the previous financial year.

Amber Enterprises' revenue from operations in the first quarter rose 13% to ₹3,888 crore while net profit advanced 19% to ₹126 crore.

Dixon Technologies

The country's leading electronics manufacturing services (EMS) provider has seen its promoters reduce their stake in the company to 28.55% from 28.68% in the previous quarter.

They owned a 28.95% stake in the company at the end of the June quarter of the previous financial year.

Last week, Dixon Technologies said it is in the process of incorporating a new subsidiary, Adivistar Electronics India Pvt Ltd, which will undertake the original equipment manufacturing (OEM) business of electronic devices, including smartphones.

Dixon will hold a 51% equity stake in the new entity, involving an initial investment of ₹2.55 crore, according to a regulatory filing.

It will acquire 25,50,000 equity shares of the new subsidiary at a face value of ₹10 per share. The transaction will be for cash consideration.

The remaining 49% stake in the entity will be held by Vivo Mobile India Pvt Ltd.

ICICI Lombard, Zensar Technologies, Cholamandalam Investment and Finance Company, Wipro, Aarti Industries, Go Digit General Insurance, KFin Technologies, L&T Finance, Aadhar Housing Finance, 360 One Wam, Affle 3i, Intellect Design Arena, Bandhan Bank, and AU Small Finance Bank promoters have also reduced their stakes in their respective companies.