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Max Financial Services Shareholding pattern FY(Q3-Dec 2024-2025)

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Shareholding results offer insight into the distribution of shares among various investors, highlighting the levels of institutional and retail ownership. These results are significant for analyzing investor confidence and market sentiment. Understanding shareholding patterns can aid stakeholders in predicting how changes in ownership might affect a company’s stock performance. Max Financial Services has released its latest shareholding reports, covering the third quarter and the fiscal year ending on (Q3-Dec 2024-2025).This detailed report examines who owns shares, including Promoters, promoter groups, Foreign investors, public investors, and government entities.
Shareholder Name Previous Quarter Quantity Current Quarter Quantity Previous Quarter Shares(in %) Current Quarter Shares(in %) Quarter to Quarter Difference
Promoters 1.15 Cr 1.15 Cr 3.34 3.34 0
Public 33.36 Cr 33.36 Cr 6.42 6.47 +0.05 %
DII 15.18 Cr 14.73 Cr 44 42.69 -1.31 %
FII 15.96 Cr 16.39 Cr 46.24 47.5 +1.26 %
Government 0 0 0 0 0
Promoters shareholding remained stable, at 3.34% in both September 2024- and December 2024-. This indicates that the promoters’ control over the company did not change during this period. The percentage of shares held by the public increased from 6.42% in September 2024-2025 to 6.47% in December 2024-2025.This change suggests that the public’s investment in the company grew during the quarter.Domestic Institutional Investor’s (DII) shareholding decreased slightly from 44% in September 2024- to 42.69% in December 2024 , indicating that domestic institutions reduced their -1.31 stake in the company.FIIs (Foreign Institutional Investors): There was a significant increase from 46.24% in September 2024-2025 to 47.5% in December 2024-2025. This suggests that foreign institutions grew their investments 1.26 in the company during the quarter.
Below is a detailed table showcasing the public shareholding percentage.
Shareholder Name Previous Quarter Quantity Current Quarter Quantity Previous Quarter Shares (in %) Current Quarter Shares (in %) Quarter-to-Quarter Difference (%)
Resident Individuals holding nominal share capital up to Rs. 2 lakhs 1.41 Cr 1.44 Cr 4.09 4.19 + 0.1 %
Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs 17.00 Lakh 15.85 Lakh 0.49 0.46 -0.03 %
Bodies Corporate 25.01 Lakh 24.08 Lakh 0.72 0.7 -0.02 %
Leading the way to higher stakeholding, Resident Individuals holding nominal share capital up to Rs. 2 lakhs has significantly boosted stakeholding by an impressive 0.1 %.Observations show a significant difference of -0.03 % in Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs’s financial performance between quarters.Observations show a significant difference of -0.02 % in Bodies Corporate’s financial performance between quarters.
Below is a detailed table presenting the shareholding percentage of DIIs.
Shareholder Name Previous Quarter Quantity Current Quarter Quantity Previous Quarter Shares (in %) Current Quarter Shares (in %) Quarter-to-Quarter Difference (%)
Mutual Funds/ 12.60 Cr 12.06 Cr 36.5 34.95 -1.55 %
MIRAE ASSET NIFTY LARGE MIDCAP 250 INDEX FUND 0 43.27 Lakh 0 1.25 +1.25%
NIPPON LIFE INDIA TRUSTEE -A/C NIPPON INDIA NIFTY MIDCAP 150 INDEX FUND 0 1.91 Cr 0 5.53 +5.53%
KOTAK MAHINDRA TRUSTEE CO A/C KOTAK NIFTY FINANCIAL SERVICES EX-BANK INDEX FUND 86.83 Lakh 81.06 Lakh 2.52 2.35 -0.17 %
HDFC MUTUAL FUND – HDFC NIFTY LARGE MIDAP 250 INDEX FUND 0 2.96 Cr 0 8.58 +8.58%
ADITYA BIRLA SUN LIFE TRUSTEE A/C – ADITYA BIRLA SUN LIFE MULTI ASSET ALLOCATION FUND 99.33 Lakh 1.01 Cr 2.88 2.92 + 0.04 %
DSP ARBITRAGE FUND 82.55 Lakh 81.66 Lakh 2.39 2.37 -0.02 %
ICICI PRUDENTIAL NIFTY FINANCIAL SERVICES EX-BANK ETF 1.62 Cr 1.53 Cr 4.7 4.42 -0.28 %
Alternate Investment Funds 44.44 Lakh 52.18 Lakh 1.29 1.51 + 0.22 %
Insurance Companies 2.14 Cr 2.15 Cr 6.19 6.23 + 0.04 %
SBI LIFE INSURANCE CO. 0 40.52 Lakh 0 1.17 +1.17%
TATA AIA LIFE INSURANCE COMPANY A/C RISING INDIA FUND (ULIF 073 17/01/24 RIF 110) 0 41.26 Lakh 0 1.2 +1.2%
HDFC LIFE INSURANCE COMPANYLIMITED -SHAREHOLDERS SOLVENCY MARGIN ACCOUNT 84.01 Lakh 80.06 Lakh 2.43 2.32 -0.11 %
MIRAE ASSET ARBITRAGE FUND 60.43 Lakh 0 1.75 0 -1.75%
UTI NIFTY MIDCAP 150 ETF 37.00 Lakh 0 1.07 0 -1.07%
FRANKLIN INDIA PRIMA FUND 42.85 Lakh 0 1.24 0 -1.24%
NIPPON LIFE INDIA TRUSTEE -A/C NIPPON INDIA NIFTY 500 EQUAL WEIGHT INDEX FUND 1.93 Cr 0 5.59 0 -5.59%
HDFC MUTUAL FUND – HDFC NIFTY500 MULTICAP 50:25:25 INDEX FUND 2.91 Cr 0 8.42 0 -8.42%
TATA AIA LIFE INSURANCE COMPANY A/C FLEXI GROWTH FD II (ULIF 074 02/05/24 FG2 110) 46.13 Lakh 0 1.34 0 -1.34%
Provident Funds/ Pension Funds 37.93 K 0 0.01 0 -0.01%
Mutual Funds/ decreased their stake from 34.95% in the previous quarter to 36.5% in the current quarter.It describes a decrease in stakes over consecutive quarters, specifically by -1.55 %.KOTAK MAHINDRA TRUSTEE CO A/C KOTAK NIFTY FINANCIAL SERVICES EX-BANK INDEX FUND decreased their stake from 2.35% in the previous quarter to 2.52% in the current quarter.It describes a decrease in stakes over consecutive quarters, specifically by -0.17 %.The latest quarter saw a considerable enhancement in stakeholding for ADITYA BIRLA SUN LIFE TRUSTEE A/C – ADITYA BIRLA SUN LIFE MULTI ASSET ALLOCATION FUND, reflecting an uptick of 0.04 % in their shares.DSP ARBITRAGE FUND decreased their stake from 2.37% in the previous quarter to 2.39% in the current quarter.It describes a decrease in stakes over consecutive quarters, specifically by -0.02 %.ICICI PRUDENTIAL NIFTY FINANCIAL SERVICES EX-BANK ETF decreased their stake from 4.42% in the previous quarter to 4.7% in the current quarter.It describes a decrease in stakes over consecutive quarters, specifically by -0.28 %.The latest quarter saw a considerable enhancement in stakeholding for Alternate Investment Funds, reflecting an uptick of 0.22 % in their shares.The latest quarter saw a considerable enhancement in stakeholding for Insurance Companies, reflecting an uptick of 0.04 % in their shares.HDFC LIFE INSURANCE COMPANYLIMITED -SHAREHOLDERS SOLVENCY MARGIN ACCOUNT decreased their stake from 2.32% in the previous quarter to 2.43% in the current quarter.It describes a decrease in stakes over consecutive quarters, specifically by -0.11 %.MIRAE ASSET NIFTY LARGE MIDCAP 250 INDEX FUND had no shares in the previous quarter but now holds 1.25% of shares in the current quarter.NIPPON LIFE INDIA TRUSTEE -A/C NIPPON INDIA NIFTY MIDCAP 150 INDEX FUND had no shares in the previous quarter but now holds 5.53% of shares in the current quarter.HDFC MUTUAL FUND – HDFC NIFTY LARGE MIDAP 250 INDEX FUND had no shares in the previous quarter but now holds 8.58% of shares in the current quarter.SBI LIFE INSURANCE CO. had no shares in the previous quarter but now holds 1.17% of shares in the current quarter.TATA AIA LIFE INSURANCE COMPANY A/C RISING INDIA FUND (ULIF 073 17/01/24 RIF 110) had no shares in the previous quarter but now holds 1.2% of shares in the current quarter.MIRAE ASSET ARBITRAGE FUND had 1.75% of shares in the previous quarter but exited in the current quarter.UTI NIFTY MIDCAP 150 ETF had 1.07% of shares in the previous quarter but exited in the current quarter.FRANKLIN INDIA PRIMA FUND had 1.24% of shares in the previous quarter but exited in the current quarter.NIPPON LIFE INDIA TRUSTEE -A/C NIPPON INDIA NIFTY 500 EQUAL WEIGHT INDEX FUND had 5.59% of shares in the previous quarter but exited in the current quarter.HDFC MUTUAL FUND – HDFC NIFTY500 MULTICAP 50:25:25 INDEX FUND had 8.42% of shares in the previous quarter but exited in the current quarter.TATA AIA LIFE INSURANCE COMPANY A/C FLEXI GROWTH FD II (ULIF 074 02/05/24 FG2 110) had 1.34% of shares in the previous quarter but exited in the current quarter.Provident Funds/ Pension Funds had 0.01% of shares in the previous quarter but exited in the current quarter.
The table below displays the shareholding percentage of FIIs.
Shareholder Name Previous Quarter Quantity Current Quarter Quantity Previous Quarter Shares (in %) Current Quarter Shares (in %) Quarter-to-Quarter Difference (%)
Foreign Portfolio Investors Category I 8.30 Cr 8.72 Cr 24.06 25.26 + 1.2 %
KOTAK FUNDS – INDIA MIDCAP FUND 49.72 Lakh 45.86 Lakh 1.44 1.33 -0.11 %
SMALLCAP WORLD FUND, INC 59.71 Lakh 66.38 Lakh 1.73 1.92 + 0.19 %
KUWAIT INVESTMENT AUTHORITY FUND F238 45.00 Lakh 35.56 Lakh 1.3 1.03 -0.27 %
WF ASIAN SMALLER COMPANIES FUND 81.99 Lakh 81.49 Lakh 2.38 2.36 -0.02 %
Foreign Portfolio Investors Category II 10.62 Lakh 13.03 Lakh 0.31 0.38 + 0.07 %
During this past quarter, there was a noteworthy upswing in stakeholding for Foreign Portfolio Investors Category I, which experienced a significant increase of 1.2 % .Stakeholding dwindled by -0.11 % for KOTAK FUNDS – INDIA MIDCAP FUND in comparison to the preceding quarter.During this past quarter, there was a noteworthy upswing in stakeholding for SMALLCAP WORLD FUND, INC, which experienced a significant increase of 0.19 % .Stakeholding dwindled by -0.27 % for KUWAIT INVESTMENT AUTHORITY FUND F238 in comparison to the preceding quarter.Stakeholding dwindled by -0.02 % for WF ASIAN SMALLER COMPANIES FUND in comparison to the preceding quarter.During this past quarter, there was a noteworthy upswing in stakeholding for Foreign Portfolio Investors Category II, which experienced a significant increase of 0.07 % .
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