India’s third-largest mutual fund house ICICI Prudential Mutual Fund picked up a stake in mid-cap company Motherson Sumi Wiring India through the open market transaction, taking its stake to above 5% in the auto ancillary company.
According to a filing by the mutual fund house, dated February 21, the fund under its various schemes bought 19,98,129 shares of Motherson Sumi Wiring India, representing a 0.045% stake.
As a result of the aforesaid purchase, the shareholding of the fund has exceeded 5% of the paid-up capital of the company, reaching a 5.033% stake. Ahead of the stake purchase, ICICI Prudential Mutual Fund held a 4.988% stake in Motherson Sumi Wiring India.
The holding by schemes of the fund is from an investment perspective and not with the objective of seeking any controlling interest, the fund house said in a release.
