The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Axis Mutual Fund
NEOGEN · price
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Axis Mutual Fund, through its schemes, sold 4,00,000 equity shares (1.46%) of Neogen Chemicals Ltd via open market on June 02, 2026. This reduced Axis MF's aggregate holding from 5.50% (15,05,406 shares) to 4.04% (11,05,406 shares) of the company's paid-up equity capital. The disposal was carried out entirely by the Axis Small Cap Fund scheme. The disclosure was filed because the cumulative disposal crossed the 2% reporting threshold under SEBI's Substantial Acquisition of Shares and Takeovers Regulations. Notably, Axis MF is not part of the promoter group of Neogen Chemicals.
This is a meaningful stake reduction by a major domestic institutional investor, which may exert short-term pressure on the stock and could be viewed by retail investors as a signal of caution regarding near-term valuation. However, since this is portfolio rebalancing by a mutual fund (not promoter-related), it does not change the company's fundamental ownership structure.