The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Mutual Fund
GLAND · price
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On the reaction day the stock moved 0.2 pts more than Nifty Smallcap 250 and 0.5 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ICICI Prudential Mutual Fund (through its various schemes) acquired 4,00,020 equity shares of Gland Pharma Ltd on April 11, 2025 through secondary market purchases. Prior to this acquisition, the fund held 79,71,094 shares (4.84% of paid-up capital). Post-acquisition, its holding stands at 83,71,114 shares, representing 5.08% of the company's equity share capital of 16,47,56,423 shares. The acquisition pushed the fund's stake above the 5% disclosure threshold under SEBI's Takeover Regulations. The fund clarified that the purchase is purely from an investment perspective and not aimed at gaining any controlling interest in the company. The disclosure was filed on April 15, 2025.
This is a routine regulatory disclosure triggered by crossing the 5% shareholding threshold. It signals continued institutional interest in Gland Pharma but does not indicate any takeover attempt or controlling stake build-up. Shareholders should view this as neutral to mildly positive, reflecting institutional buying confidence.