The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mirae Asset Mutual Fund
UTKARSHBNK · price
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Awaiting price reaction for this filing.
Mirae Asset Mutual Fund sold 1.80 crore shares, equivalent to a 1.64% stake, in Utkarsh Small Finance Bank on May 5, 2025 through open market transactions. This reduced Mirae Asset's holding from 4.16% (4.59 crore shares) to 2.53% (2.79 crore shares). The acquirer confirmed it does not belong to the promoter or promoter group of the bank. The disclosure was filed under SEBI's Regulation 29(2) of the SAST Regulations, 2011.
A sizable cut by a major foreign institutional investor signals reduced conviction at the margin and may weigh on short-term sentiment for the stock. Existing retail shareholders should note that institutional ownership has nearly halved from earlier levels, which could increase price volatility going forward.