Promoter selling hits record in secondary market, buying dips to 3-year low
The equity sales of company promoters in India reached a record in 2025, and their purchases fell to the lowest level since 2022, as valuation-driven monetization efforts drove sell calls throughout the year.The year 2025 saw promoter exits worth ₹1.38 trillion through secondary market deals alone, according to data from market intelligence firm PRIME Database. This figure represents a 22% increase from the ₹1.12 trillion figure recorded in 2024.
In contrast, promoter buying activity declined to ₹2,298 crore in 2025. This is a decrease from the ₹6,168 crore in purchases made in 2024 and the ₹3,791 crore recorded in 2023."The gap between promoter selling and buying suggests valuations in parts of the market are factoring in a lot of optimism," Prakash Bulusu, joint chief executive officer (CEO) of IIFL Capital said.
"Promoters are long-term owners, so higher selling alongside very low buying points more to limited near-term upside at current prices than to a loss of confidence." He added that the trend of high promoter selling looks valuation-driven rather than sentiment-led.However, Pranav Haldea, managing director of PRIME Database Group, said that promoter selling in itself should not be taken as a bad sign or a sign of excessive valuations. "If promoter selling is accompanied with deteriorating fundamentals of the company, then it is a red flag and needs to be looked at in greater detail," he explained.The volume of promoter exits was driven by several large-block transactions throughout the year.
The largest promoter-driven stock selling was seen in telecom major Bharti Airtel Ltd, where promoters sold equity worth ₹41,657 crore in four transactions between May and November 2025. IndiGo parent Interglobe Aviation Ltd
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