Internet Fund VI Pte. Ltd has submitted to the Exchange a copy of Disclosure under Regulation 29(1) of the SEBI (SAST) Regulations, 2011.
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Awaiting price reaction for this filing.
Internet Fund VI Pte. Ltd, a Singapore-based shareholder in Billionbrains Garage Ventures (the listed parent of Zerodha), has filed a disclosure under Regulation 29(1) of the SEBI Takeover Regulations with the stock exchange. This regulation requires any shareholder to disclose when their voting rights in the company cross or fall below the 5% threshold. The exact direction of the change (acquisition or disposal) and the revised shareholding percentage are not specified in the headline. Internet Fund VI Pte. Ltd is understood to be an institutional investor and not part of the promoter group led by Nithin Kamath.
This is a routine regulatory disclosure triggered by a change in a major shareholder's stake crossing the 5% mark. Investors should look at the actual filing for the revised shareholding percentage and whether it is a buy or sell, as that will indicate institutional confidence in the stock.