HDFC Mutual Fund reduces stake in TCI Express by 2.68% to 2.46%
HDFC Mutual Fund reduced its stake in TCI Express by 2.68%, selling 10,30,484 shares on July 15, 2026, via the open market. The post-transaction holding stands at 2.46% of the paid-up equity share capital. The disclosure was made under SEBI takeover regulations.
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HDFC Mutual Fund reduced its shareholding in tci express by 2.68% to 2.46% of the paid-up equity share capital as on July 15, 2026. The divestment involved the sale of 10,30,484 equity shares carrying voting rights through the open market. This move follows a previous disclosure where the fund held a 5.15% stake as on November 14, 2024.
The transaction was disclosed in a letter dated July 17, 2026, from Divya Chouta, Joint Assistant Vice President - Compliance Governance at HDFC Asset Management Company Limited, to the Company Secretary of TCI Express Limited. The disclosure was submitted in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Prior to the sale, the aggregate holding of the Schemes of HDFC Mutual Fund was 19,75,031 shares, representing 5.14% of the total voting capital. Following the disposal, the holding stands at 9,44,547 shares. The equity share capital of TCI Express before and after the transaction remained at Rs. 7,68,37,980, comprising 3,84,18,990 equity shares of Rs. 2 each.
The specific schemes associated with the acquirer include HDFC Large and Mid Cap Fund, HDFC Manufacturing Fund, and HDFC Small Cap Fund. The acquirer clarified that it does not belong to the promoter or promoter group of the target company. The shares of TCI Express are listed on BSE Limited and National Stock Exchange of India Limited.
Change in Shareholding Details
| Description | Number of Shares | % of Total Share Capital |
|---|---|---|
| Holding Before Sale | ||
| Shares carrying voting rights | 19,75,031 | 5.14% |
| Details of Sale | ||
| Shares sold | 10,30,484 | 2.68% |
| Holding After Sale | ||
| Shares carrying voting rights | 9,44,547 | 2.46% |
The mode of acquisition for the original holding was not specified in the disclosure, while the recent reduction was executed via the open market on July 15, 2026.
Historical Stock Returns for TCI Express
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.13% | -3.67% | +5.70% | -0.27% | -21.82% | -64.59% |
What factors drove HDFC Mutual Fund's decision to significantly reduce its stake in TCI Express?
How will the increased supply of shares in the open market impact TCI Express's stock price in the short term?
Are other major institutional investors likely to follow HDFC's lead in reducing their holdings?
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