Nippon India AMC Reduces Stake in Fusion Finance to 2.57%
By Ankur Chandra | Published at: Jun 2, 2025 03:58 PM IST
MUMBAI | June 2, 2025: Nippon Life India Asset Management Ltd. has announced that it has reduced its stake in Fusion Finance Limited to 2.5722% through open-market transactions. The company announced its action in accordance with a regulatory disclosure made on May 30, 2025, under the Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011, as per SEBI.
The sale was executed on behalf of various schemes of Nippon India Mutual Fund. It involved the offloading of 2,58,411 equity shares, bringing down its holding from 2.7686% to 2.5722% of Fusion Finance’s total diluted share capital.
Key Transaction Details
| Particulars | Before Sale | After Sale |
|---|---|---|
| No. of Shares | 40,12,951 | 37,54,540 |
| Holding (%) | 2.7686% | 2.5722% |
- Mode of Sale: Open Market
- Sale Period: May 10, 2023, to May 28, 2025
- Equity Share Capital: ₹1,31,55,30,810 comprising fully and partly paid shares
Before this transaction, a prior dilution happened in April 2023, from 5.05% disclosed in April 2023. The dilution was caused by a rights issue of 7.41 lakh partly paid shares. With the additional offloading, the cumulative change in Nippon India’s holding now exceeds 2%, triggering disclosure obligations under Regulation 29(2) of the SAST Regulations.
“There is a change in shareholding of 2% based on our existing pre-issue shareholding,” the company noted in its disclosure.
Despite the reduction, Nippon India continues to maintain a significant institutional presence in Fusion Finance as part of its broader portfolio strategy.
REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/8F4D8D45_6FE1_4799_8F04_B064ABED810B_103035.pdf
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