The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Mutual Fund
RATEGAIN · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 1.5 pts less than its Computers - Software & Consulting 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, an institutional investor, has filed a disclosure under SEBI's Takeover Regulations about reducing its stake in RateGain Travel Technologies Ltd. The fund sold a net of 24,43,309 shares via open market transactions between February 20, 2025 and May 29, 2026, including a recent sale of 3,67,090 shares on May 29, 2026. As a result, its holding dropped from 59,63,731 shares (5.06% of paid-up capital) to 35,20,422 shares (2.98% of paid-up capital), a decline of more than 2%. The fund clarified the transactions were purely investment-driven and not aimed at gaining control of the company.
A significant reduction in holding by a major institutional investor like ICICI Prudential Mutual Fund (from 5.06% to 2.98%) may be viewed negatively by the market, potentially putting short-term pressure on the stock. However, since the sales were spread over more than a year via open market, the immediate price impact may be limited.