The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mission 1 Investments LLC
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Awaiting price reaction for this filing.
Mission1 Investments LLC, a non-promoter shareholder based in the USA, has filed a Regulation 29(2) disclosure. It did not buy or sell any shares. Its holding remains 29,94,349 equity shares, but its percentage fell from 23.00% to 17.71% purely because the company's share base expanded. On April 23, 2025, the company allotted 38,88,889 equity shares on a preferential basis to Sanlam Emerging Markets (Mauritius) Limited, which now holds 23.00% of the company. As a result of this dilution, the promoter Shriram Credit Company Limited's stake dropped from 62.55% to 48.17%, slipping below the 50% mark. Public shareholding also fell from 14.45% to 11.12%.
No shares were actually sold by Mission1, so this is not a negative signal for the stock from selling pressure. However, the promoter falling below 50% is a notable structural change—any further dilution or stake sale could affect control. The entry of Sanlam as a 23% shareholder suggests a strategic foreign investor has come in, which may be viewed positively by the market.