The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SBI Mutual Fund
THERMAX · price
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SBI Mutual Fund, acting through its various schemes, has bought 10,85,943 shares (0.91%) of Thermax Ltd through open market purchases on August 26, 2025. This raises SBI Mutual Fund's total holding in Thermax from 79,67,426 shares (6.69%) to 90,53,369 shares (7.60%). The disclosure was filed under SEBI's Regulation 29(2), which is triggered whenever an existing shareholder's stake changes by 2% or more. SBI Mutual Fund is not a promoter of Thermax — it is an institutional investor buying on the open market.
A domestic mutual fund building a nearly 7.6% stake is a vote of confidence from institutional money, which can be positive for the stock. Investors should note that SBI MF is now within striking distance of the 10% significant-shareholder threshold under takeover rules, so further buying could trigger additional disclosures.