The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Mutual Fund
PSPPROJECT · price
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On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 1.2 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ICICI Prudential Mutual Fund has disclosed a reduction in its shareholding in PSP Projects Ltd via open market sales on the BSE and NSE. The fund sold 1,32,208 shares on June 13, 2025, taking its cumulative net sale since the last filing (July 10, 2024) to 8,99,160 shares. As a result, the fund's holding in PSP Projects has dropped from 5.14% (20,37,294 shares) to 2.87% (11,38,134 shares) of the company's paid-up capital — a decline of over 2%. The filing clarifies that the holding is purely from an investment perspective and not aimed at gaining control of the company.
This is a significant institutional exit from PSP Projects Ltd, with a major mutual fund cutting its stake by nearly half. For shareholders, this signals waning institutional confidence and could put short-term pressure on the stock price, though it is not related to promoter actions.