SBI Mutual Fund Increases Stake in Leading IT Firm

resr 5paisa Research Team

Last Updated: 14th February 2025 - 05:25 pm

2 min read

SBI Mutual Fund has increased its ownership in Happiest Minds Technologies Ltd by purchasing additional shares via open market transactions.

Regulatory filings reveal that SBI Mutual Fund acquired an extra 0.1274% stake in the company, elevating its total holding from 4.9023% to 5.0297%. The acquisition was executed through open market purchases.

As of 12:40 PM, the share price of Happiest Minds Technologies were trading at ₹695.10 apiece on the BSE, marking a slight dip of 0.09%. The company’s market capitalization stood at over ₹10,584 crore.

In a stock exchange filing, SBI Mutual Fund stated, “We wish to inform you that under its various schemes, SBI Mutual Fund has acquired 1,93,968 shares of your company on February 11, 2025, thereby surpassing the 5% threshold of the paid-up share capital of Happiest Minds Technologies.”

Following this transaction, the mutual fund’s total holding across different schemes amounted to 76,58,958 shares, representing a 5.0297% stake in Happiest Minds Technologies as of the close of business on February 11, 2025.

Happiest Minds Technologies Shareholding Structure

According to the latest shareholding data for the December 2024 quarter, the Promoter and Promoter Group collectively held 6,73,42,021 equity shares, translating to a 44.22% stake in Happiest Minds Technologies. Meanwhile, public shareholders accounted for 54.25% of the shareholding, amounting to 8,26,11,841 shares.

Happiest Minds Technologies Stock Performance

Happiest Minds Technologies’ share price has faced downward pressure in recent months. The stock has declined by 2.5% over the past month and is down over 4% on a year-to-date (YTD) basis.

Over the last six months, the company’s stock price has fallen by more than 7%, while it has experienced a 16% decline over the past year. Notably, the IT stock has lost over 31% of its value in the last three years.

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