CALCUTTA, OCT 5: Total foreign holdings in tobacco giant - ITC have reached nearly 46 per cent, according to the latest shareholding pattern available for the company. Foreign holdings have gone up by almost five percentage points over the last one year, according to figures on the last day of book closure, ie August 27, 1997.

Out of the foreign holdings at book closure date this year, foreign companies (including BAT and its associates) account for 37.15 per cent. This includes 32 per cent held by BAT and 5.15 per cent is accounted for by GDR holding. Foreign institutional investors hold 7.76 per cent, foreign nationals 0.07 per cent and non-resident Indians 0.83 per cent stake in the company.

Compared to the shareholding pattern that existed in August last year, the foreign holdings have gone up from 41.3 per cent to over 45 per cent including NRI holdings of 0.83 per cent. The single largest block of shares (26.97 per cent) is held by Tobacco Manufacturers India Ltd, a BAT-owned subsidiary. Significantly, domestic financial institutions and banks have been relegated to second spot if they are taken as a group. Their stake has come down from 35 per cent last year to about 33 per cent.

Among financial institutions, Life Insurance Corporation holds 8.47 per cent, Unit Trust of India 13.96 per cent, Industrial Finance Corporation of India 0.06 per cent, General Insurance Co 11.02 per cent, banks 0.06 per cent and mutual funds 0.25 per cent. Other corporate bodies hold around one per cent of the equity.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.