The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Altitude Investment Fund PCC - Cell 1
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Altitude Investment Fund PCC - Cell 1, a Mauritius-based foreign investment fund, has disclosed acquisition of 2,61,085 equity shares (7.61%) of Kuber Udyog Ltd through open market purchases. The buying was spread across eight trading days between 13 April 2026 and 28 April 2026, with the largest single-day purchase of 1,65,000 shares (4.81%) on 28 April 2026. Before this acquisition, the fund held no shares in the company, and after the purchases it stands at 7.61% of the equity capital (total capital is 34,33,000 shares of Rs 10 each). The acquirer has confirmed it does not belong to the promoter or promoter group. The disclosure is filed under Regulation 29(1) of the Takeover Code, triggered because the acquirer's holding crossed the 5% disclosure threshold.
A new foreign institutional investor has built a 7.61% stake in this small-cap company through open market buying, which may be seen as a positive signal of external interest, but it also means an FII is now a meaningful shareholder to watch. Investors should monitor whether this fund increases its stake further, as crossing the 10% mark would trigger additional disclosure and possible open offer obligations.