Jupiter Capital Sells 10.69% Stake in Axiscades; Abakkus, Kotak AMC Among Buyers

Jupiter Capital has sold a 10.69% stake in Axiscades Technologies in a large market transaction, with Abakkus Asset Manager and Kotak Mahindra Mutual Fund among the investors picking up shares. 

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Jupiter Capital, the promoter of Axiscades, sold 45.48 lakh shares for ₹829.72 crore on September 29. The shares, representing 10.69% of the engineering solutions company’s equity, were sold at ₹1,824 apiece. 

Before the transaction, Jupiter Capital held 58.03% in Axiscades as of June 2026. 

Abakkus Asset Manager bought 12.88 lakh shares, giving it a 3.03% stake, for ₹235 crore. Kotak Mahindra Mutual Fund purchased 20.83 lakh shares, equivalent to 4.89% of the company, for ₹380 crore. 

Two other investors also participated in the transaction. Vanaja Sundar bought 3 lakh shares for ₹54.72 crore, while Svadha India Emerging Opportunities Scheme 1 acquired 8.77 lakh shares for ₹160 crore. 

Axiscades shares reacted sharply to the deal. The stock hit its 10% upper circuit and closed at ₹2,067.40 on the NSE, its highest closing level since May 11. Trading volumes were also high during the session. 

Another sizeable transaction took place in Cube Highways Trust on the same day. Seventy Second Investment Company LLC, owned by Abu Dhabi sovereign wealth fund Mubadala Investment Company, sold 4.49 crore units, or a 3.34% stake, for ₹689.46 crore. 

The units were sold at ₹153.30 each to nine investors. The seller held 6% in Cube Highways Trust as of June 2026. 

Larsen & Toubro bought 97.84 lakh units for ₹150 crore, while White Oak Capital Mutual Fund acquired 84.8 lakh units for ₹130 crore. 

HDFC Standard Life Insurance and ICICI Prudential Life Insurance Company each purchased 68.31 lakh units for ₹104.73 crore. 

Birla Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund and Max New York Life Insurance each bought 26.09 lakh units for ₹40 crore. Kotak Mahindra Life Insurance Company also acquired 26.09 lakh units for ₹40 crore. 

Cube Highways Trust closed at ₹154.59 on the NSE, up 0.37% for the session.