The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Multitude Growth Funds Ltd
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Multitude Growth Funds Limited, a Mauritius-based entity, was allotted 20,00,000 equity shares of ID Info Business Services Limited on January 18, 2025, through a preferential issue. This represents 10.25% of the company's total share/voting capital. Before this acquisition, Multitude held no shares in the company. The target company's equity capital expanded from 12,50,000 shares to 1,95,19,000 shares (face value Rs. 10 each) as a result of this and other allotments. The acquirer does not belong to the promoter or promoter group, and the shares carry only voting rights with no encumbrance or convertible features.
A new foreign institutional investor has crossed the 10% shareholding mark in ID Info Business Services, which may be seen as a positive signal of institutional confidence but also introduces a sizeable non-promoter shareholder. Retail investors should note the significant expansion of the equity base and the entry of a foreign fund holding over 10%.