BackHDFC MF raises stake by 2.01% in Sula Vineyards, total holding now at 8.56%
HDFC MF raises stake in Sula Vineyards by 2.01% via open market. HDFC AMC also gets RBI approval to raise stakes in five private lenders.
PremiumHDFC MF has raised its stake by 2.01% in India's biggest winemaker Sula Vineyards via the open market on September 28. With this the total holding in HDFC MF now stands at 8.56%, Sula Vineyards informed in an exchange filing.
"We refer to our letter dated September 01, 2023, wherein we mentioned that as of August 31, 2023, the aggregate holding of the Schemes of HDFC Mutual Fund in ’ SULA VINEYARDS LIMITED" ( ’The Company’) was 6.55% of the paid-up equity share capital of the Company (Paid up Equity Share Capital being ₹16,87,55,818/- comprising 8,43,77,909 Equity Shares of ₹2/- each)," India's biggest winemaker said.
Further, in accordance with the captioned regulation and other applicable laws/regulations, if any, we wish to inform you that there has been an increase in the shareholding of the Company by the Schemes of HDFC Mutual Fund by 2.01% as of September 28, 2023. As of September 28, 2023, the aggregate holding of the Schemes of HDFC Mutual Fund in the Company is 8.56% of the paid-up equity share capital of the Company (Paid Equity Share Capital is ₹16,87,55,818/- comprising 8,43,77,909 Equity Shares of ₹2/- each), it added.
In other news, HDFC AMC secured the Reserve Bank of India’s (RBI’s) approval to raise its stake to 9.5% in five private lenders. India’s third-largest asset manager was granted regulatory approval to raise stakes in Karur Vysya Bank Ltd, DCB Bank Ltd, Equitas Small Finance Bank Ltd, Federal Bank Ltd, and City Union Bank, the lenders said in separate exchange fillings.
Sebi’s MF norms restrict a single scheme from investing more than 10% of its assets in one publicly traded company and limit the total exposure to a single sector to 25% of its net asset value (NAV).
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