The number of companies witnessing an increase in foreign promoter holdings rose to 21 from 18 a year earlier | Photo Credit: patcharin innara

Even as FPIs net sold ₹1.80 lakh crore from Indian equities in FY26, foreign promoters seem to have shown more faith in the Indian stock market.

A businessline analysis of data from Capitaline shows that of the 146 companies in Nifty-500 with foreign promoter holdings, 40 companies, or 27.4 per cent, saw a reduction in foreign promoter stake during FY26, compared with 53 companies (36.3 per cent) in FY25. At the same time, the number of companies witnessing an increase in foreign promoter holdings rose to 21 from 18 a year earlier.

Increase in foreign promoter stake in FY26 was concentrated in a handful of companies. AAVAS Financiers registered the largest increase at 22.41 percentage points, as Aquilo House bought a stake from Lake District Holdings and Partners Group. Cemindia Project, an infrastructure developer and operator, followed closely with an increase of 20.82 percentage points. Adani Ports also saw foreign promoter holdings rise by 4.79 percentage points to 28.03 per cent.

AWL Agri Business attracted a further 13 percentage points of foreign promoter investment, while Cohance Life recorded a 7.39 percentage-point increase.

Only 5 companies have seen foreign promoters reduce their holdings by more than ten per cent in FY26. Meanwhile, 20 companies have seen a marginal reduction by foreign promoters in their shareholdings, at less than one per cent.  

The sharpest reduction in foreign promoter stake was seen in JSW Dulux, where Imperial Chemical Industries and Akzo Nobel Coatings International completely exited their combined 74.76 per cent holding by March 2026. In the paints sector, Berger Paints also saw a complete exit of foreign promoter holdings.

Aptus Value Housing Finance recorded the second-largest decline, with foreign promoter ownership dropping 28.59 percentage points, as Westbridge Crossover Fund and JIH II exit. Anu Anand Ravilla continues to hold a 1.03 per cent stake in the company as of March 2026.

Whirlpool India and KFin Technologies also saw a notable decline, with holdings falling by 11.24 percentage points and10.05 percentage points respectively.

Published on July 17, 2026