1 / 11Foreign Institutional investors (FIIs) have been net sellers of Indian equities for quite some time now. While rising US bond yields and stretched valuation have prompted them to take some risks off the table, continued depreciation in the rupee has weighed on their sentiment. This has led banks and information technology (IT) to see biggest reduction in FII holdings in 2024. Yet, they continue to give higher exposure to these two sectors as the two together account for nearly a third of their holdings. As of December 31, 2024, FII holding in Indian equities was valued at $831 billion, which is 16% of the country’s equity market. Mentioned below are the companies where foreign investors have reduced the most stake.
2 / 111. IndusInd Bank | Current FII holding 24.7% | Stake sold in 2024: 17.2% | The FIIs holding in private lender IndusInd bank has come down the most among BSE500 companies. At the end of December 2024, their ownership in the bank stood at 24.7%, which is a fall of 17.2 percentage points over the last one year.
3 / 112. Route Mobile | Current FII holding 4.7% | Stake sold in 2024: 16.9% | After declining 13% in 2024, the stock Route Mobile continued its downward trend, having hit its 52-week on Thursday. The foreign holding in the communication solutions provider has plunged to 4.7% at the end of December from about 22% recorded a year ago.
4 / 113. RBL Bank | Current FII holding 13.4% | Stake sold in 2024: 14.9% | The ownership of FIIs holding shrunk less than half over the last one year to 13.4%. The private lender reported a pre-tax loss in December quarter on the back of sharp rise in credit costs.
5 / 114. Star Health and Allied Insurance Company | Current FII holding 17.5% | Stake sold in 2024: 13.5% | Ever since its listing in December 2021, Star Health and Allied Insurance Company has failed to generate positive returns to the shareholders. Unsurprisingly, the overseas investors have cut down their exposure in the company to 17.5% from 31% recorded a year ago.
6 / 115. Bandhan Bank | Current FII holding 23.2% | Stake sold in 2024: 11.5% | Private lender Bandhan Bank is the third one from the sector, which has seen a drop in FII ownership. At the end of December 2024, FII holdings in the bank stood at 23.2%.
7 / 116. Birlasoft | Current FII holding 11.1% | Stake sold in 2024: 10.2% | After more than doubling in 2023, the stock of Birlasoft cooled off in the next year. Shares of the Smallcap IT firm gave up some of their earlier gains in 2024 as it lost 23% during the year.
8 / 117. Kalyan Jewellers India | Current FII holding 16.4% | Stake sold in 2024: 9.8% | Shares of Kalyan Jewellers have plummeted nearly 40% in January 2025 so far. But the overseas investors have been reducing their stake much before the latest selloff in the stock. The FPI holding in the jewellery maker has come off nearly 10 percentage points in 2024.
9 / 118. KPIT Technologies | Current FII holding 17.4% | Stake sold in 2024: 9.1% | The stock of KPIT Technologies post its first yearly fall in 2024. The stock has declined 3.3% during the year as it lowered revenue guidance. The company has cut its FY25 constant currency revenue growth guide to the low end of 18-22% range driven by slowdown in decision making by clients.
10 / 119. Delhivery | Current FII holding 53.8% | Stake sold in 2024: 9.0% | Delhivery shares have failed to deliver decent returns to shareholders despite the implementation of several initiatives to drive business growth, improve services and enhance client experiences. The stock is down by 6% so far in 2025 and was down by 11% previous year.
11 / 1110. Zee Entertainment Enterprises | Current FII holding 20.1% | Stake sold in 2024: 8.1% | Although the FPI ownership in Zee Entertainment Enterprises has increased sequentially in December quarter, their holding has come off to 20% from over 28% recorded in December 2023.
