What is a promoter group? (2026)
A promoter group is the wider set of people and entities that SEBI treats as connected to a company's promoter, the person or group in control. When you read an Indian company's shareholding pattern, promoter and promoter group holdings are grouped together and reported separately from public shareholders. Knowing what falls inside the promoter group tells you how much of the company sits with the controlling side.
Definition
A promoter group
is the SEBI-defined set of entities linked to a company's promoter, such as immediate relatives and bodies corporate where the promoter holds 20% or more of the equity. It is disclosed together with the promoter in the quarterly shareholding pattern, separate from public shareholders. Source: SEBI ICDR Regulations.
Who counts in a promoter group?
The definition sits in Regulation 2(1)(pp) of the SEBI ICDR Regulations. In practice the promoter group captures the promoter's close orbit, including:
- Immediate relatives of the promoter
- Bodies corporate in which the promoter or an immediate relative holds 20% or more of the equity, or which hold 20% or more in the promoter
- Hindu Undivided Families and firms where the promoter or relatives hold specified stakes
The point of the category is to stop control being hidden behind related names. It groups the connected holdings so public shareholders can see the true controlling block.
20% or more
Equity stake that pulls a body corporate into the promoter group
Source: SEBI ICDR Regulations, Regulation 2(1)(pp)
Where the promoter group shows up
The promoter group appears in the quarterly shareholding pattern that every listed company files with the NSE and BSE, due within 21 days of quarter-end under SEBI LODR Regulation 31. The filing splits holdings into promoter and promoter group versus public. For a full walkthrough, see how to read a shareholding pattern. This is the same filing that reveals promoter pledging and the minimum public shareholding split.
Can the promoter group change?
Yes. A promoter or promoter group member can seek reclassification as a public shareholder under SEBI LODR Regulation 31A. The conditions are strict: the outgoing party and related persons must together hold no more than 10% of voting rights, must not exercise control, and must hold no special rights over the company. Reclassification changes how the same shares are labelled in the next shareholding pattern.
So, what is a promoter group in one line: the SEBI-defined circle of entities tied to the promoter, disclosed together in the shareholding pattern. To track how this block moves over time, see the promoter holding tracker. Flock reads these public filings and keeps each one stamped with its date and source. What any of it means for you is your call to make.
Frequently asked questions
What is the difference between a promoter and a promoter group?
The promoter is the person or entity in control of the company. The promoter group is the wider set of related people and entities defined by SEBI, such as immediate relatives and bodies corporate where the promoter holds 20% or more. Both are shown in the shareholding pattern. Source: SEBI ICDR Regulations.
Where is the promoter group disclosed?
In the quarterly shareholding pattern every listed company files with the NSE and BSE, filed within 21 days of quarter-end. Promoter and promoter group holdings are reported as one category, separate from public shareholding. Source: SEBI LODR Regulation 31.
How is promoter group defined by SEBI?
The promoter group is defined in Regulation 2(1)(pp) of the SEBI ICDR Regulations. It includes immediate relatives of the promoter and bodies corporate in which the promoter or a relative holds 20% or more of the equity, among other links. Source: SEBI ICDR Regulations.
Can a promoter be reclassified as public?
Yes, under conditions in SEBI LODR Regulation 31A. The outgoing promoter and related persons must together hold no more than 10% of voting rights, must not have control, and must hold no special rights. Source: SEBI LODR Regulation 31A.
Flock tracks these filings, sourced, dated, and linked back to the original. See what smart-money entities disclosed, without the guesswork about what it means.
Disclosures shown are public regulatory filings. Data may be delayed or incomplete. Smart-money entities may no longer hold positions shown. Not investment advice.