PPFAS Mutual Fund, acting through its various schemes, has disclosed the acquisition of a substantial stake in Mahanagar Gas Limited. The fund has purchased shares representing 4.9543% of the total voting capital, a move made via open market transactions. This disclosure is in compliance with SEBI’s substantial acquisition regulations, providing transparency to investors regarding significant ownership shifts in the target company.
Significant Stake Acquisition
PPFAS Asset Management Private Limited, acting as the Investment Manager for PPFAS Mutual Fund, has formally announced the acquisition of a considerable stake in Mahanagar Gas Limited. The disclosure, made on October 27, 2026, details that the fund’s schemes, along with associated persons acting in concert, have acquired shares carrying voting rights.
Key Acquisition Details
The acquisition involved purchasing shares through open market transactions. Post-acquisition, PPFAS Mutual Fund, along with persons acting in concert, holds a total of 49,59,213 shares carrying voting rights. This represents approximately 5.0205% of Mahanagar Gas Limited’s total share capital and voting capital. The transaction does not involve any shares in the nature of encumbrance or convertible securities leading to additional voting rights.
Regulatory Compliance
This disclosure is made in adherence to Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The aggregate holding before the acquisition was reported at 4.9543% of the total share capital, and the current total holding after the acquisition stands at 5.0205%. The total diluted share/voting capital of Mahanagar Gas Limited remains unchanged at Rs. 98,77,77,780/- (9,87,77,778 shares at the face value of Rs.10 per share).
Transaction Details
The shares were acquired on October 23, 2026. The total equity share capital of Mahanagar Gas Limited before and after the acquisition remains Rs. 98,77,77,780/-, with each share having a face value of Rs. 10.
Source: BSE
