The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for FMR LLC & FIL Ltd
PSPPROJECT · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 1.9 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
FMR LLC and FIL Ltd, both foreign portfolio investors under the Fidelity group, have disclosed a reduction in their holding in PSP Projects Ltd. Their stake fell from 1,996,151 shares (5.035%) to 452,069 shares (1.14%), a sale of 1,544,082 shares representing a 3.90% drop in ownership. The shares were sold partly in the open market (334,966 shares) and partly through a tender offer (1,209,116 shares) between August 3, 2024 and June 17, 2025. FMR LLC and FIL Ltd are not promoters of PSP Projects, so this is purely a portfolio decision by the foreign institutional investor. The remaining 1.14% holding is spread across three FPI funds — HI-Kappa-14-Sfonds, Fidelity Funds – Emerging Asia, and HI-SZVA-34-Sfonds.
This is a significant exit by a major foreign institutional investor, which may be viewed negatively by retail investors as it reduces institutional confidence signals. However, since the sale was carried out partly through a tender offer, it reflects a structured exit rather than panic selling, and the stock impact may already be priced in.