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 in the open market on June 2, 2026. This reduced its holding from 15,05,406 shares (5.50%) to 11,05,406 shares (4.04%) of the company's equity capital. The disposal, entirely from Axis Small Cap Fund, crossed the 2% reporting threshold since the fund's last disclosure under Reg 29(2) of SEBI (SAST) Regulations, 2011. Axis MF is not part of the promoter/promoter group; the filing is a routine regulatory disclosure for an institutional investor's shareholding change.
A large mutual fund cutting its stake can be a mild negative signal as it may indicate reduced institutional confidence, though MF portfolio rebalancing is routine. Shareholders should note the drop in institutional holding; the 4.04% post-disposal level remains meaningful but below the 5% substantial shareholder threshold.