HDFC became first listed Indian company to have 75% shareholding by FIIs
The mortgage financier HDFC became the first listed Indian company among the 30 SENSEX firms to have more than 75 percent shareholding by FIIs
The mortgage financier HDFC became the first listed Indian company among the 30 SENSEX firms to have more than 75 percent shareholding by Foreign Institutional Investors (FIIs).
It happened after the FIIs raised their stake in the company to a record-high of nearly 78 percent during the July-September 2014 quarter.
Cumulative FII holdings in the company rose from 73.09 percent in July-September 2013 to 77.85 percent in the July-September 2014. In the April-June 2014 quarter, FIIs' holding in HDFC stood at 77.36 percent.
Moreover, shareholding of FIIs in HDFC has been steadily rising since September 2013. The rise in the shareholding of the FIIs in the company is the result of smart returns given by the company.
The rise of overseas shareholding in the mortgage lender coincides with overall bullishness shown by foreign entities in the Indian stock market.
In the period July-September 2014, FIIs have invested more than 23000 crore rupees in the Indian equities. This has happened on the back of ongoing reform initiatives taken by the Union government.
Further, the overall holding FIIs also rose to 88.17 percent during July-September 2014 from 88.01 percent at the end of 30 June 2014. The increase happened mostly on account of additional share purchases by FIIs.
The domestic institutional holdings stood at 10.32 percent as on 30 September 2014 which is down from 10.65 percent in April-June 2014.