The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Massachusetts Institute of Technology & 238 ....
CEMPRO · price
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Massachusetts Institute of Technology (MIT) and 238 Plan Associates LLC sold a combined 6,208,600 equity shares (3.61% of voting capital) of ITD Cementation India Limited between 12 June 2024 and 11 April 2025. Most of the shares (about 6.11 lakh) were tendered in the open offer for which consideration was received on 9 April 2024, with a small portion (about 94,000 shares) sold in the open market. Their combined holding in the company dropped sharply from 3.95% to just 0.34%, meaning they have nearly fully exited the stock. MIT and 238 Plan are explicitly classified as non-promoters and are foreign institutional investors managed by MIT's investment arm (MITIMCO).
This signals a near-complete exit by a foreign institutional investor from ITD Cementation India. While most shares were already tendered into the open offer over a year ago, the formal disclosure confirms the remaining open-market sales. Existing shareholders should note that one of the larger institutional holders has largely moved out, though no further shares of significance remain with them to sell.