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Satyam promoters gradually reduce stake
December 31, 2008 18:20 IST
The promoters of Satyam [Get Quote] Computers, currently facing the wrath of shareholders over corporate governance issues, used to own as much as 25.60 per cent equity in the company till few years ago before reducing their stake in phases.
A look at the shareholding pattern of the company over the years reveal that the promoters held 25.60 per cent equity as of March 2001 but reduced their stake every year thereafter.
By March 2002, their stake got reduced to 22.26 per cent and further down to 20.74 per cent as of March 2003.
As per the shareholding pattern, the promoters held 17.35 per cent stake as of March 2004 which went down to 15.67 per cent in March 2005 and 14.02 per cent in March 2006.
The biggest reduction came about in the subsequent year. For, as of March 2007, the promoters' stake went down to single digits at 8.79 per cent.
As of September 2008, the promoters held 8.61 per cent stake which is the latest figure available. The company will file the shareholding pattern for December quarter in the month of January.
Interestingly, foreign institutional investors which used to hold as high as 56 per cent equity in the company as of March 2005 currently hold 46.86 per cent.
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