The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Mutual Fund
REDTAPE · price
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ICICI Prudential Mutual Fund has disclosed acquisition of 3,00,000 shares of Redtape Ltd on May 22, 2026 through open market purchases. The Fund's holding increased from 5.02% (as of July 15, 2024) to 7.06%, representing a net acquisition of 2.04% of paid-up capital. After the acquisition, the Fund holds 3,90,41,362 shares out of 55,28,07,600 total shares. The filing notes that share quantities were adjusted for a 3:1 bonus issue in February 2025. The Fund explicitly states its holding is from an investment perspective and not with the objective of seeking controlling interest. The acquirer is not part of the promoter/promoter group.
ICICI Prudential Mutual Fund has now crossed the 7% threshold, indicating growing institutional confidence in Redtape Ltd. While the Fund denies intent to seek control, the steady accumulation over nearly 2 years may signal positive sentiment about the company's prospects.