Mirae Asset MF Crosses 5% Stake Threshold in Capillary Technologies
In a significant post-IPO development, Mirae Asset Mutual Fund has substantially increased its holding in the newly-listed Capillary Technologies India Limited. According to an exchange filing made on Tuesday, November 25, the asset management company purchased additional shares via the open market, pushing its total stake above the crucial 5% mark.
Details of the Stake Acquisition
The filing revealed that Mirae Asset acquired 746,000 shares, representing a 0.94% stake, on November 24. This strategic purchase elevated the fund house's total holding in the company from 4.83% (38.31 lakh shares) to 5.77% (45.77 lakh shares). While the exact acquisition cost remains undisclosed, this move signals strong confidence in the company's future prospects.
This is not Mirae Asset's first investment in Capillary Technologies. The mutual fund was also a participant in the company's anchor investor round ahead of its public offering, having picked up 6,58,600 shares at ₹577 per share.
Capillary Tech's Stock Market Journey
Shares of Capillary Technologies made their stock market debut on Friday, November 21, experiencing a volatile first day of trading. The stock began trading at ₹560 on the BSE, a 2.94% discount to its issue price, but later staged a remarkable recovery.
During its debut session, the scrip climbed as much as 9.70% to reach ₹633, eventually settling at ₹606.90, up 5.18% from the IPO price. The bullish momentum continued, with the share price closing 17.55% higher at ₹735.85 in Tuesday's trade, defying overall market weakness. The stock even touched its all-time high of ₹751.20 during the session.
Compared to its IPO price band of ₹549-577 per share, the scrip is now trading approximately 27% higher. The company's ₹877.5-crore IPO, which consisted of a fresh issue of ₹345 crore and an offer for sale of 92,28,796 shares, witnessed overwhelming investor response, getting subscribed 52.95 times on the final day.
Disclaimer: This analysis is for educational purposes only. Investors are advised to consult certified experts before making any investment decisions, as market conditions can change rapidly.
