The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bandhan Mutual Fund
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On the reaction day the stock moved 1.8 pts less than Nifty Microcap 250 and 1.8 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bandhan Mutual Fund, through its various schemes, has bought 1,50,308 equity shares of Updater Services Ltd on July 18, 2025 via the open market. The acquisition raised Bandhan MF's holding from 9.0282% to 9.2527% of the company's paid-up capital, a 0.2245% increase for this particular transaction. The buy-in was made entirely through the Bandhan Small Cap Fund, which now holds 3.7308% of the company. The disclosure is filed under Regulation 29(2) of SEBI's Takeover Regulations, which is the mechanism used to report creeping acquisitions on the way to the 10% disclosure threshold. Bandhan MF is not part of the promoter group, so this is purely a passive institutional investor build-up.
Bandhan MF is inching closer to the 10% creeping acquisition threshold, which means more such disclosures may follow if they keep buying. Rising institutional ownership from a domestic mutual fund can be seen as a vote of confidence in the stock and may support liquidity, though it does not change promoter control.