Shapoorji Pallonji, 1,000 non-brokers buy into BSE

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As it readies for its IPO, the Bombay Stock Exchange’s shareholding pattern indicates the entry of Shapoorji Pallonji along with about a 1,000 non-brokers who have picked up shares of the exchange.

An FC Research Bureau analysis of data filed with the registrar of companies reveals the additions between June 17 last year and August 31 this year, the total number of stakeholders going up from 5,762 to 6,797.

The 23 biggest shareholders continued to hold 53.92 per cent, absolutely unchanged during the period that saw so many newcomers. It is possible that they sold or bought shares without any change in their collective holding.

The most interesting entry was that of Shapoorji Pallonji & Company, which bought 0.24 per cent. Though from wh­om they bought the stake and at what price are not revealed, Shapoorji Pallonji became the 24th largest holder of BSE shares.

Its co-managing director Cyrus Pallonji Mistry is the chosen man to succeed Ratan Tata as head of the Tata group.

The only other significant change was that several venture capital firms also bought BSE shares. Their collective holding was 0.51 per cent.

One of them was a Mumbai-based firm, A R Venture Funds Management, which had 0.14 per cent as on August 31.

The largest piece of the pie continued to be held jointly by Singapore Exchange and Deutsche Borse (4.92 per cent each). Among other large holders were LIC and SBI.

Earlier, US-based PE firm Argonaut Ventures had increased its stake from 2.54 per cent at the end of May 2010 to 4.75 per cent in mid-June of 2011. At that time Argonaut Ventures was a Sebi-registered foreign institutional investor sub-account operating under George Kaiser Family Foundation of the US.

The data also revealed that Dubai Financial group had sold its entire 3.88 per cent to a George Soros group hedge fund, Quantum (Mauritius). The sale had taken place earlier for a reported sum of $35 million (about Rs 163 crore at that time).

Some large shareholders in BSE also hold large stakes in NSE. For instance, LIC and SBI. The two were the largest holders of NSE stake as at September-end last year with 10.51 per cent and 10.19 per cent, respectively.

At that time Quantum (Mauritius) held 0.86 per cent in NSE, MSPL along with promoters (the Baldota brothers) held 0.94 per cent and S Gopalakrishnan (the then executive co-chairman of Infosys) held 0.38 per cent.

rajeshgajra@mydigitalfc.com

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