The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Mutual Fund
UNIVCABLES · price
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Awaiting price reaction for this filing.
ICICI Prudential Mutual Fund has disclosed a net sale of 7,34,833 equity shares (2.118% of paid-up capital) of Universal Cables Ltd, executed in the secondary market between September 6, 2024 and November 20, 2025. As a result, the fund's holding in the company has dropped from 18,12,465 shares (5.224%) to 10,77,632 shares (3.106%), a decline of over 2 percentage points. The filing confirms this is purely an investment-driven move and not aimed at gaining any controlling interest. The disclosure has been made under Regulation 29(2) of the SEBI (SAST) Regulations, 2011.
A meaningful reduction in institutional (mutual fund) ownership may be viewed negatively by retail investors as it signals a fund house's reduced confidence in the stock at current levels. However, since the holding remains above 1% and the sale was spread over more than a year, the immediate price impact may be limited.