SBI Mutual Fund Acquires Stake in HDFC AMC

Mumbai, India – In a major strategic move, SBI Mutual Fund has acquired a substantial stake in HDFC AMC, one of India’s leading asset management companies. The investment, valued at Rs 757 crore, was made through an open market transaction on Monday.

SBI Mutual Fund purchased 47.33 lakh shares of HDFC AMC at an average price of Rs 1,600 per share. This acquisition solidifies SBI Mutual Fund’s position in the Indian mutual fund industry, expanding its reach and diversifying its investment portfolio.

The move is seen as a vote of confidence in HDFC AMC’s ability to capitalize on the growing Indian mutual fund market. HDFC AMC has a strong track record of delivering consistent returns to its investors and has been a major player in the industry for decades.

Shrem Infra Structure Offloads Stake in Shrem InvIT

In a separate development, Shrem Infra Structure Pvt Ltd, the sponsor of Shrem InvIT, has sold 1.56 crore shares of the investment trust through an open market transaction. The shares were sold at an average price of Rs 114 per piece, resulting in a total transaction value of Rs 177.84 crore.

The buyers of the shares were Rohit Kapadia and Kairus Shavak Dadachanji A/C Non-Discretionary. While the reasons behind Shrem Infra Structure’s decision to sell its stake are unclear, the transaction could indicate a shift in the company’s investment strategy or a need for liquidity.

Market Reactions

Shares of HDFC AMC closed 0.17% higher at Rs 1,681 per scrip on the National Stock Exchange (NSE) on Monday, following the news of SBI Mutual Fund’s investment. The positive market reaction suggests that investors are optimistic about the potential benefits of SBI Mutual Fund’s involvement in the company.

Overall, both transactions highlight the ongoing activity and evolution of the Indian capital markets, as well as the dynamic nature of corporate investments and divestments.