Page Industries recent shareholding pattern suggests that there has been a 0.41% reduction in the promoter’s stake; down from 48.32% to 47.91%. This should be around 45000 shares (~140 crores) which were sold between March and June.
I managed to crawl their annual report to verify if this was done by the outgoing CEO, Vedji Ticku. He held only 200 shares of Page and the company does not have any policy of stock options for their directors/employees. So, this stake sell has to be done by one or all of the Genomal brothers as each of them hold 16.1% stake in the company as confirmed from the block deals section reported on stockedge. The promoters had last reduced their stake from 49.01% to 48.32% back in June-Sep 2018 as each one of the three brothers cut their stake by 0.22%.
There is also a notable change in the FIIs stake which is down from 25.89% to 23.62%. Nalanda’s stake is the same while “Arisaig Asia Consumer Fund Limited” who held 1.4% looks to have either sold out completely or the shareholding has fallen below 1%. Another one is “St. James’s Place Emerging Markets Equity Unit Trust” which held 2% in the last quarter has cut its stake to 1.4%.
- From a lifetime high of ~37.8% in December 2018, the current FIIs stake is at 23.6%; a significant decrease of ~14% from the peak.
Mutual funds have increased their stake from 12.07% to 13.25% and the insurance cos hold 4.15% (was 2.9% in the earlier quarter).
- The combined holdings of the DIIs (MFs+insurance cos) has gone up from 3% in Dec 2018 to 17.4%. The retail holding is more or less the same