The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for HDFC Capital Affordable Real Estate Fund - 1
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HDFC Capital Affordable Real Estate Fund-1 (HCARE-1), a Category II AIF managed by Vistra ITCL as trustee, sold 12,73,530 equity shares of Arvind SmartSpaces in the open market on February 24, 2026 and March 9, 2026. This represents a 2.78% reduction in its stake relative to total share capital. Post-sale, HCARE-1's holding has come down from 17,32,200 shares (3.78%) to just 4,58,670 shares (1.00% of equity capital and 0.97% of diluted share capital). The acquirer is not part of the promoter/promoter group. The total share capital of the company remains unchanged at 4,58,66,979 equity shares of Rs. 10 each.
This is a meaningful stake sale by a notable institutional investor (HDFC Capital-backed real estate fund), reducing its holding to just 1%. A 2.78% open-market exit in a short window could exert short-term supply pressure on the stock, though the overall share count and promoter holding remain unaffected.