Foreign institutional investors (FIIs) have raised stake in billionaire Mukesh Ambani-led Reliance Industries to a record 25.2% in the quarter ended September 30, according to the company’s regulatory filing.
Reliance Industries (RIL) on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.
The statement showed FII holding 165.8 crore shares or 25.2% of the total shareholding.
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In the previous quarter ended June 30, foreign investors held 163.07 crore shares of 24.72%.
In an investor note, JP Morgan said FII holding in RIL has hit a new high.
“As has been the case now for two years, FII’s stake in RIL hit new highs. Surprisingly, mutual funds’ (MF) stake declined by 25 basis points quarter-on-quarter and was the second straight quarter of stake decline,” it said.
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The last time domestic MFs reduced their holding in RIL over two straight quarters was back in 2016, it said adding domestic mutual funds held 5.12% of RIL as of September 30, down from 5.37% in the previous quarter.
Promoters have also upped their stake to 50.49% from 50.37%.