Parag Milk Foods shareholders and shareholding pattern

NSE: PARAGMILKBSE: 539889Food ProductsSmall Cap

Parag Milk Foods Limited · Face value ₹10 · Listed May 2016 · Issue price ₹215

₹239.20₹3.25 (1.34%)BSE ₹239.05

Share price at the NSE close on 28 Oct 2026. Previous close ₹242.45.

28 Oct: open ₹241.65, high ₹244.20, low ₹237.00

52-week range of traded prices to 28 Oct 2026

₹177.84Low, 30 Mar 2026₹376.95High, 13 Nov 2025

Market cap: ₹3,005 Cr1,001st largest listed
P/E: 23.20
P/B: 2.39
Dividend yield: 0.46%
ROE: 11.4%
ROCE: 10.8%
Debt to equity: 0.43
Volume, NSE: 6,49,54041.7% delivered

Parag Milk Foods' shareholding pattern for Sep 2026, filed on 15 Oct 2026, with every filing from Dec 2016: who owns its shares by group, its promoters by name and its public holders of 1% or more.

Who owns Parag Milk Foods, filing by filing

Per cent of the company's shares.

Sep 2026 filing

Promoters40.49%
Foreign institutions7.59%
Indian institutions2.87%
Individuals and others48.67%
Employee trusts0.37%

Shareholding pattern, per cent, from Sep 2022

Promoters
Foreign institutions
Indian institutions
Individuals and others
Employee trusts

Per cent	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	47.48%	47.48%	48.20%	48.70%	48.71%	48.71%	45.96%	45.96%	45.96%	45.96%	45.96%	45.96%	46.20%	46.20%	46.20%	46.20%	46.20%	46.20%	40.75%	40.75%	40.75%	40.75%	40.75%	36.19%	41.63%	41.63%	41.63%	41.63%	41.63%	42.61%	42.61%	42.61%	42.61%	42.61%	42.61%	42.61%	40.65%	40.65%	40.49%	40.49%
Indian promoters	47.48%	47.48%	48.20%	48.70%	48.71%	48.71%	45.96%	45.96%	45.96%	45.96%	45.96%	45.96%	46.20%	46.20%	46.20%	46.20%	46.20%	46.20%	40.75%	40.75%	40.75%	40.75%	40.75%	36.19%	41.63%	41.63%	41.63%	41.63%	41.63%	42.61%	42.61%	42.61%	42.61%	42.61%	42.61%	42.61%	40.65%	40.65%	40.49%	40.49%
	52.25%	52.25%	51.53%	51.03%	51.02%	51.02%	53.77%	53.83%	53.83%	53.83%	53.83%	53.83%	53.59%	53.59%	53.59%	53.59%	53.59%	53.59%	59.07%	59.07%	59.07%	59.07%	59.07%	63.64%	58.22%	58.22%	58.22%	58.22%	58.22%	57.25%	57.25%	57.25%	57.25%	57.25%	57.25%	57.25%	59.26%	59.27%	59.03%	59.13%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	12.95%	11.73%	10.23%	8.76%	8.75%	8.83%	8.95%	8.51%	10.08%	8.20%	8.46%	9.23%	9.91%	9.25%	8.77%	7.46%	7.59%
Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	12.95%	11.73%	8.80%	7.25%	7.08%	7.10%	7.18%	6.96%	8.68%	7.37%	7.46%	7.54%	8.20%	7.61%	7.50%	6.71%	6.79%
Foreign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	1.43%	1.50%	1.67%	1.73%	1.77%	1.55%	1.40%	0.83%	1.00%	1.70%	1.72%	1.65%	1.27%	0.75%	0.80%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.34%	3.97%	4.00%	7.36%	8.11%	8.58%	8.64%	8.61%	7.12%	7.07%	6.92%	6.87%	6.62%	6.16%	5.25%	5.80%	2.87%
Mutual funds	4.01%	2.22%	2.59%	3.24%	4.13%	4.34%	2.43%	5.19%	5.49%	5.63%	0.59%	0.65%	0.60%	0.60%	Under 0.01%	Under 0.01%	–	–	0.72%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%	0.56%	0.07%	0.03%	0.03%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Alternative investment funds	–	–	–	–	0.23%	0.77%	1.92%	0.58%	0.54%	0.54%	0.54%	0.72%	0.77%	0.09%	0.09%	0.09%	0.09%	–	4.72%	4.72%	4.73%	4.73%	4.73%	4.20%	3.84%	3.84%	7.20%	7.59%	7.80%	8.35%	8.35%	6.84%	6.84%	6.84%	6.84%	6.60%	6.15%	5.25%	5.80%	2.87%
Venture capital funds	–	–	6.03%	8.90%	8.54%	8.20%	7.86%	6.11%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	4.69%	3.50%	3.29%	3.29%	3.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–	–	–	–	0.00%
Non-bank lenders registered with RBI	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.14%	0.13%	0.16%	0.16%	0.16%	0.22%	0.22%	0.22%	0.24%	0.22%	0.07%	0.03%	0.02%	0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	46.35%	42.53%	44.00%	42.11%	41.35%	40.81%	39.66%	40.13%	40.05%	41.98%	41.88%	41.15%	40.72%	43.85%	45.25%	45.77%	48.67%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	15.36%	14.35%	15.27%	13.46%	14.42%	14.50%	18.88%	22.78%	23.03%	21.60%	21.26%	19.73%	16.92%	15.33%	16.73%	16.86%	17.63%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9.12%	8.62%	7.90%	9.32%	7.27%	7.96%	5.89%	6.04%	5.82%	7.77%	8.31%	9.71%	11.52%	11.99%	11.73%	12.19%	13.60%
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	12.85%	11.50%	11.05%	11.18%	11.52%	10.12%	8.81%	7.40%	7.50%	9.64%	9.44%	8.89%	9.22%	8.88%	8.87%	8.82%	9.12%
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.16%	1.07%	1.11%	1.16%	1.04%	1.15%	1.19%	1.17%	1.15%	1.44%	1.40%	1.45%	1.43%	1.29%	1.51%	1.53%	1.73%
Foreign companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	6.29%	5.76%	5.76%	5.76%	5.76%	5.76%	3.52%	1.24%	0.98%	0.00%	0.00%	–	0.00%	4.58%	4.58%	4.56%	4.56%
Investor education fund	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Directors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.14%	0.14%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.25%	0.25%	0.25%	0.25%
Key managers	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.56%	1.24%	2.91%	1.09%	1.22%	1.05%	1.11%	1.23%	1.31%	1.26%	1.21%	1.12%	1.37%	1.52%	1.58%	1.55%	1.78%
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.22%	0.03%	1.75%	0.02%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.33%	1.20%	1.16%	1.07%	1.22%	1.05%	1.11%	1.23%	1.30%	1.26%	1.21%	1.12%	1.36%	1.52%	1.57%	1.55%	1.78%
Employee trusts	0.27%	0.27%	0.27%	0.27%	0.27%	0.27%	0.27%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.18%	0.18%	0.18%	0.18%	0.18%	0.16%	0.15%	0.15%	0.15%	0.15%	0.15%	0.15%	0.15%	0.15%	0.15%	0.14%	0.14%	0.14%	0.09%	0.08%	0.47%	0.37%
Promoter shares pledgedShare of the promoters' own shares	0.00%	0.00%	15.98%	15.82%	15.81%	15.81%	16.76%	14.56%	14.56%	21.73%	21.73%	35.87%	35.69%	48.10%	24.81%	12.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Shares in issue	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	8,41,14,582	9,53,75,841	9,53,75,841	9,53,75,841	9,53,75,841	9,53,75,841	10,73,75,841	11,73,75,841	11,73,75,841	11,73,75,841	11,73,75,841	11,73,75,841	11,93,75,841	11,93,75,841	11,93,75,841	11,93,75,841	11,93,75,841	11,93,75,841	11,93,75,841	12,51,09,554	12,51,09,554	12,56,09,554	12,56,09,554
Shares locked in	4,11,22,627	4,11,22,627	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	–	–	–	–	–	–	–	–	3,53,34,686	3,53,34,686	3,53,34,686	1,12,61,259	0	1,20,00,000	2,20,00,000	1,00,00,000	1,00,00,000	1,00,00,000	1,00,00,000	1,20,00,000	20,00,000	20,00,000	20,00,000	20,00,000	3,13,66,288	2,93,66,288	2,93,66,288	–	–	–
Promoters' shares locked in	3,99,41,189	3,99,41,189	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	1,68,22,980	–	–	–	–	–	–	–	–	2,40,73,427	2,40,73,427	2,40,73,427	0	0	0	1,00,00,000	1,00,00,000	1,00,00,000	1,00,00,000	1,00,00,000	1,20,00,000	20,00,000	20,00,000	20,00,000	20,00,000	3,13,66,288	2,93,66,288	2,93,66,288	–	–	–
Shares underlying depositary receipts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	2,300	2,500	0	0	0	0	0	0	–	0	–	–	–

Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. Pledged is the share of the promoters' own shares given to lenders as security. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Parag Milk Foods shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
All shareholders	11,425	22,158	22,355	22,955	28,843	31,097	30,811	39,791	44,895	46,879	47,787	48,952	47,557	47,718	51,472	57,288	54,547	53,065	51,833	53,811	56,093	65,044	67,712	61,413	60,770	62,057	58,600	62,709	67,465	99,784	1,08,941	1,09,431	1,11,247	1,10,428	1,02,552	88,012	86,569	88,588	88,951	89,477
	11	11	11	11	11	11	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	11	11	11	11	11	11	11	11	11	11	11	11	11	12	12	12	12
Indian promoters	11	11	11	11	11	11	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	11	11	11	11	11	11	11	11	11	11	11	11	11	12	12	12	12
	11,413	22,146	22,343	22,943	28,831	31,085	30,800	39,780	44,884	46,868	47,776	48,941	47,546	47,707	51,461	57,277	54,536	53,054	51,822	53,800	56,082	65,033	67,701	61,401	60,758	62,045	58,588	62,695	67,450	99,772	1,08,929	1,09,419	1,11,235	1,10,416	1,02,540	88,000	86,556	88,575	88,938	89,464
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	23	26	25	28	34	32	32	33	35	37	44	45	50	54	50	40	39
Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	23	26	24	26	31	29	28	31	33	36	40	42	43	46	45	37	36
Foreign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	1	2	3	3	4	2	2	1	4	3	7	8	5	3	3
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4	3	5	5	7	7	6	7	7	6	5	5	10	9	5	8	7
Mutual funds	9	6	6	5	8	8	4	5	5	5	3	4	3	4	1	1	–	–	1	1	0	0	0	0	0	0	0	1	1	1	1	1	0	0	1	1	1	1	1	1
Alternative investment funds	–	–	–	–	2	2	4	3	2	2	2	1	1	1	1	1	1	–	2	2	3	3	3	3	2	2	2	3	3	2	3	1	1	1	1	7	6	3	6	5
Venture capital funds	–	–	1	2	2	2	2	2	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	–	–	–	–	–	0
Non-bank lenders registered with RBI	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	3	3	3	3	3	3	5	5	4	3	2	2	1	1	1
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	61,374	60,729	62,015	58,555	62,654	67,411	99,734	1,08,889	1,09,377	1,11,192	1,10,367	1,02,490	87,940	86,493	88,520	88,890	89,418
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	58,759	58,144	59,481	56,053	60,062	64,655	96,342	1,05,240	1,05,600	1,07,205	1,06,431	98,654	84,314	82,923	84,802	85,095	85,460
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	109	113	105	136	139	132	133	142	130	136	129	143	160	169	172	179	191
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	324	313	308	316	325	339	367	398	416	437	414	420	459	424	410	420	481
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	948	925	922	916	990	1,057	1,325	1,340	1,385	1,514	1,544	1,522	1,456	1,490	1,573	1,582	1,595
Foreign companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	1	1	1	1	–	0	1	1	1	1
Investor education fund	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1
Directors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	1	1	2	2	2	2	2	2	2	2	2	2	2	2
Key managers	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,233	1,233	1,198	1,131	1,135	1,224	1,563	1,765	1,842	1,895	1,844	1,747	1,547	1,482	1,558	1,609	1,686
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	58	38	29	9	4	2	4	3	5	6	6	7	4	2	2	2	2
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	–	–	–	–	–	1	2	2	2	2
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,174	1,194	1,168	1,121	1,130	1,221	1,558	1,762	1,837	1,889	1,838	1,740	1,542	1,478	1,554	1,605	1,682
Employee trusts	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1

Parag Milk Foods promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is DEVENDRA PRAKASH SHAH, 16.09%. The filing names 21 more members with no shares.Promoter buying and selling

Holder
DEVENDRA PRAKASH SHAHIndividuals and Hindu undivided families	16.09%	2,02,06,400
NETRA PREETAM SHAHIndividuals and Hindu undivided families	11.04%	1,38,67,027
PRITAM PRAKASH SHAHIndividuals and Hindu undivided families	7.29%	91,59,888
POOJAN DEVENDRA SHAHIndividuals and Hindu undivided families	2.62%	32,95,000
SHAH PRITI DEVENDRAIndividuals and Hindu undivided families	1.77%	22,22,820
AKSHALI DEVENDRA SHAHIndividuals and Hindu undivided families	1.59%	20,00,000
LATE PARAG PRAKASH SHAHIndividuals and Hindu undivided families	0.08%	1,00,000
SHABDALI DESAIIndividuals and Hindu undivided families	0.01%	10,000
SHAH STAVAN PRITAMIndividuals and Hindu undivided families	0.00%	100
NAYAN SAMEER SHAHIndividuals and Hindu undivided families	0.00%	24
LATE RAJANI PRAKASH SHAHIndividuals and Hindu undivided families	0.00%	100
LATE PRAKASH BABULAL SHAHIndividuals and Hindu undivided families	0.00%	100

No promoter shares are reported as pledged.

Largest public holders of Parag Milk Foods, filing by filing

Per cent, on the same shares as the split above.

Holder	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
INTERNATIONAL FINANCE CORPORATIONForeign companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	7.08%	7.08%	7.08%	7.08%	7.08%	6.29%	5.76%	5.76%	5.76%	5.76%	5.76%	3.52%	1.24%	–	–	–	–	–	4.58%	4.58%	4.56%	4.56%
GB MU-MR OP FU OP-ED PCC PL-GBC INDIA OPPORTUNITYForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.39%
PEANENCE COMMERCIAL PVT LIMITEDCompanies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.46%	3.39%	2.96%	2.90%	2.88%	2.88%	4.96%	4.91%	4.87%	4.87%	4.65%	4.17%	4.16%	3.25%
INDIA INSIGHT VALUE FUNDForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.89%	2.30%	2.47%	2.40%	2.40%	2.44%	2.44%	2.44%	2.17%	1.93%	1.93%	1.79%	1.76%	1.76%	1.73%	1.73%	1.73%	1.73%	1.76%	1.87%	1.87%	1.78%	1.85%	1.84%	1.84%
SIXTH SENSE INDIA OPPORTUNITIES IIIAlternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.83%	2.83%	2.83%	2.83%	2.83%	2.52%	2.30%	2.30%	5.67%	5.92%	6.14%	6.84%	6.84%	6.84%	6.84%	6.84%	6.84%	5.14%	4.58%	4.58%	4.56%	1.48%
YASH SHARES AND STOCK PRIVATE LIMITEDCompanies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.12%
ENIGMA SMALL OPPORTUNITIES FUNDAlternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.11%
MULTITUDE GROWTH FUNDS LIMITEDForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.55%	4.55%	4.55%	4.22%	3.96%	3.43%	3.40%	–
VLS FINANCE LTDCompanies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.18%	1.58%	1.71%	2.98%	3.42%	3.15%	2.21%	1.89%	1.68%	1.40%	1.40%	–	–	–	–	–	–
AG DYNAMIC FUNDS LIMITEDForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	10.24%	9.39%	6.30%	4.63%	4.63%	4.63%	4.55%	4.55%	4.55%	–	–	–	–	–	–	–	–
NORTH STAR OPPORTUNITIES FUND VCC-BULL VALUE INCORForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.48%	–	–	–	–	–	–	–	–
NEXPACT LIMITEDForeign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.43%	1.43%	1.43%	1.43%	1.40%	1.40%	1.39%	–	–	–	–	–	–	–	–
SIXTH SENSE INDIA OPPORTUNITIES IIAlternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.89%	1.89%	1.89%	1.89%	1.89%	1.68%	1.54%	1.54%	1.54%	1.54%	1.54%	1.51%	1.51%	–	–	–	–	–	–	–	–	–
VANAJA SUNDAR IYERResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.00%	–	–	–	–	–	–	–	–	–	–	–
AKASH BHANSHALIResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.47%	1.49%	1.49%	1.31%	1.31%	1.31%	1.31%	1.31%	1.16%	1.06%	–	1.06%	–	–	–	–	–	–	–	–	–	–	–	–	–
IDFC TRUSTEE CO. LTD A/C IDFC INFRASTRUCTURE FUNDCompanies	–	6.03%	6.03%	6.03%	6.03%	6.03%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	5.99%	4.69%	3.50%	3.29%	3.29%	3.29%	2.90%	2.06%	2.06%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
ORBIS FINANCIAL CORPORATION LIMITEDOther non-institutions	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.66%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
AADI FINANCIAL ADVISORS LLPCompanies	–	–	1.02%	1.02%	1.02%	1.02%	–	–	–	–	–	–	–	2.44%	2.44%	2.44%	1.68%	1.44%	1.27%	1.27%	1.27%	1.27%	1.27%	1.13%	1.03%	1.03%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
MUKUL MAHAVIR AGRAWALResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.10%	2.10%	2.06%	1.83%	1.67%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
BLUE DAIMOND PROPERTIES PVT LTDOther non-institutions	–	–	–	–	–	–	–	–	–	–	–	–	1.58%	3.77%	3.77%	3.77%	3.57%	1.59%	1.40%	1.40%	1.40%	1.40%	1.40%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
LATA BHANSHALIResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.13%	1.19%	1.19%	1.05%	1.05%	1.05%	1.05%	1.05%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
SOMERSET EMERGING MARKETS SMALL CAP FUND LLCInstitutions Foreign Portfolio Investor	–	–	–	–	–	–	–	–	–	–	–	–	2.69%	2.69%	2.69%	2.69%	2.65%	2.45%	2.45%	1.25%	1.26%	1.15%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
MUKUL AGRAWALResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.78%	2.38%	2.38%	2.10%	2.10%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
AMAL N PARIKHOther non-institutions	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.07%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
STICHTING DEPOSITARY APG EMERGING MARKETS EQUITY PInstitutions Foreign Portfolio Investor	–	–	–	–	–	–	–	–	–	1.34%	5.78%	7.29%	7.29%	7.29%	5.50%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
GOLDMAN SACHS INDIA LIMITEDInstitutions Foreign Portfolio Investor	2.92%	2.92%	2.92%	2.92%	2.92%	2.92%	2.92%	2.92%	2.92%	2.92%	2.38%	2.38%	2.50%	2.24%	2.24%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
MUKUL MAHAVIRPRASAD AGRAWALResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	1.19%	1.19%	1.19%	1.19%	1.19%	1.19%	1.19%	1.19%	1.19%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
GOVERNMENT PENSION FUND GLOBALInstitutions Foreign Portfolio Investor	2.66%	2.66%	2.66%	2.66%	2.66%	2.66%	2.66%	2.97%	2.97%	2.97%	2.97%	2.97%	2.97%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
PRAZIM TRADING AND INVESTMENT CO. PVT. LTD.Other non-institutions	–	–	–	–	–	–	–	–	–	–	3.74%	1.00%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
PIVOTAL BUSINESS MANAGERS LLPOther non-institutions	–	–	–	–	–	–	–	–	–	–	–	1.00%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
NEW HORIZON OPPORTUNITIES MASTER FUNDInstitutions Foreign Portfolio Investor	3.01%	3.01%	2.91%	2.91%	2.91%	2.67%	2.14%	2.14%	1.80%	1.79%	1.79%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
ASHISH KACHOLIAResident individuals, over ₹2 lakh at face value	1.88%	2.02%	2.02%	1.73%	1.73%	1.73%	1.73%	1.49%	1.49%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
NOMURA INDIA INVESTMENT FUND MOTHER FUNDInstitutions Foreign Portfolio Investor	3.50%	3.50%	3.50%	2.43%	1.64%	1.64%	1.35%	1.35%	1.35%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
IDFC SPICE FUNDVenture capital funds	2.87%	2.87%	2.87%	2.87%	2.51%	2.17%	1.87%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
WHITE OAK INDIA EQUITY FUNDAlternative investment funds	–	–	–	–	–	–	1.42%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
MADHULIKA AGARWALResident individuals, over ₹2 lakh at face value	1.14%	1.14%	1.14%	1.14%	1.14%	1.14%	1.14%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
INFINA FINANCE PRIVATE LTDNon-bank lenders registered with RBI	–	–	–	–	1.06%	1.14%	1.14%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
INDIA ACORN FUND LTDInstitutions Foreign Portfolio Investor	–	–	–	–	–	1.01%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
COPTHALL MAURITIUS INVESTMENT LIMITEDInstitutions Foreign Portfolio Investor	1.21%	1.29%	1.05%	1.05%	1.04%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
ABU DHABI INVESTMENT AUTHORITY - BEHAVEInstitutions Foreign Portfolio Investor	2.10%	2.10%	2.10%	2.10%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent. The 40 holders most recently named are shown, of 42 holders the filings name.

Who moved in the Sep 2026 filing

Against the Jun 2026 filing. A filing names a public holder only at 1% or more, so a holder no longer named fell under 1% or sold out.

Foreign institutions: MULTITUDE GROWTH FUNDS LIMITED no longer named, from 3.40%; GB MU-MR OP FU OP-ED PCC PL-GBC INDIA OPPORTUNITY newly named at 3.39%
Indian institutions: SIXTH SENSE INDIA OPPORTUNITIES III 1.48%, −3.08 pts; ENIGMA SMALL OPPORTUNITIES FUND newly named at 1.11%
Individuals and others: YASH SHARES AND STOCK PRIVATE LIMITED newly named at 1.12%; PEANENCE COMMERCIAL PVT LIMITED 3.25%, −0.91 pts