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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Bandhan Mutual Fund (through its schemes) sold 21,56,652 equity shares of Updater Services Ltd on June 05, 2026 through the open market. This brought its holding down from 9.48% (63,47,651 shares) to 6.26% (41,90,999 shares), a drop of about 3.22% of paid-up capital. The acquirer is not part of the promoter/promoter group — it is an institutional investor. The disclosure was filed under Regulation 29(2) of SEBI Takeover Regulations, which is triggered when any shareholder's stake moves by more than 2% in a financial year.
A meaningful reduction in institutional (mutual fund) ownership in a single transaction can be seen as a mild negative signal by retail investors, as it indicates a large fund's confidence has cooled. However, since the stake remains sizeable at over 6%, it is more of a portfolio rebalancing than a complete exit.