Mutual funds increased their exposure to in the September quarter, adding a net 1.31 lakh shares, as Union Mutual Fund entered the stock with five schemes, broadening institutional participation.
The number of mutual fund schemes holding the company’s shares rose to 30 in the September quarter from 26 in June. Union MF’s entry has taken the total number of mutual fund houses invested in the small-cap classified company to 10 from 9.
Union MF acquired about 1.71 lakh shares through five schemes, led by its Balanced Advantage Fund with 56,000 shares, followed by Multi Asset Fund with 46,000 shares and Aggressive Hybrid Fund with 37,200 shares. Its Equity Linked Savings Scheme held 28,280 shares, while its Equity Savings Fund held 3,900 shares.
WhiteOak Capital remained the largest mutual fund investor, holding 13.89 lakh shares across 11 schemes. This accounted for about 63 per cent of the total mutual fund holding, down from 67 per cent in June, indicating a gradual broadening of ownership beyond the fund house.
Among other funds, ’s Aggressive Hybrid Fund added 20,000 shares, while WhiteOak’s Special Opportunities Fund increased its holding by 9,735 shares. The Samco Small Cap Fund and Motilal Oswal Microcap 250 Index Fund also raised their exposure.
However, some schemes sold their holdings. Bandhan Innovation Fund sold 32,219 shares, cutting its position by about 28 per cent, while the ITI Focused Fund reduced its holding by 17,060 shares. Samco Special Opportunities Fund exited the stock by selling its entire holding of 30,074 shares.
The buying by mutual funds came even as some large investors booked profits following a roughly 15 per cent rise in the stock price. VQ FasterCap reduced its holding by about 4.39 lakh shares, or 28 per cent of its position, while investor Mukul Agrawal sold one lakh shares, trimming his holding by about 10 per cent. Agrawal continued to hold a 1.37 per cent stake.
Foreign investor Hood River maintained its position.
The selling by VQ FasterCap and Agrawal amounted to about 5.39 lakh shares, substantially exceeding the net buying by mutual funds. The absorption of this supply suggests that other investors may have taken up the shares, although holdings below the disclosure threshold cannot be independently established from the available data.
Overall, the September-quarter shareholding pattern points to wider mutual fund participation at 3.3 per cent, supported by Union MF’s entry and continued holdings by WhiteOak. However, the concentration of mutual fund ownership in WhiteOak and the selling by select schemes remain key trends to watch in the coming quarters.
The company recently bagged major orders and raised ₹350 crore through a Qualified Institutional Placement.