Malabar India Fund Reduces Stake in Indian Terrain Fashions by 2.77%

Malabar India Fund Limited has significantly reduced its shareholding in Indian Terrain Fashions Limited , a move that has altered the company's ownership structure. The fund executed a series of transactions in the secondary market, resulting in a notable decrease in its stake.

Transaction Details

Aspect	Details
Shares Sold	1,050,000 equity shares
Transaction Period	June 8-19, 2020
Previous Shareholding	7.63%
Current Shareholding	4.86%
Reduction in Stake	2.77%
Transaction Method	Open market

Impact on Ownership

The sale of shares by Malabar India Fund has led to a significant change in its position within Indian Terrain Fashions. The fund's ownership has dropped from 7.63% to 4.86% of the company's total share capital, marking a decrease of 2.77 percentage points.

Company Overview

Indian Terrain Fashions Limited's capital structure provides context to this transaction:

Capital Structure	Details
Total Equity Share Capital	Rs 75,882,600
Number of Equity Shares	37,941,300
Face Value per Share	Rs 2

About Malabar India Fund

Malabar India Fund is an investment entity licensed by the Financial Services Commission of Mauritius. It's important to note that the fund does not belong to the promoter group of Indian Terrain Fashions, positioning it as an external investor in the company.

This transaction highlights the dynamic nature of institutional investments in the Indian stock market, where large shareholders may adjust their positions based on various strategic considerations or market conditions.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.70%	+4.38%	+18.40%	+15.64%	-27.49%	+39.10%

Indian Terrain , a prominent player in the apparel and accessories segment, has reported its financial results for the first quarter, showing a reduction in net loss despite flat revenue. The company has also announced key corporate updates, including the scheduling of its Annual General Meeting (AGM) and appointments of auditors.

Financial Performance

For the quarter ended June 30, Indian Terrain reported:

Revenue from operations remained relatively flat at ₹68.78 crore, compared to ₹68.36 crore in the same quarter of the previous year.
Net loss narrowed to ₹6.19 crore, a significant improvement from the ₹15.27 crore loss in the same quarter last year.
Total expenses decreased to ₹76.08 crore from ₹90.30 crore year-over-year, indicating improved cost management.

The company's financial results show the following key figures:

Particulars (₹ in Crore)	Current Quarter	Previous Year Quarter
Revenue from Operations	68.78	68.36
Total Income	70.04	69.39
Total Expenses	76.08	90.30
Net Profit/(Loss)	(6.19)	(15.27)

Corporate Updates

The Board of Directors, in their recent meeting, approved several important matters:

Annual General Meeting: The 16th AGM is scheduled for September 29, to be held virtually at 12 Noon IST.
Director Re-appointments:
- Mrs. Rama Rajagopal will seek re-appointment as a Non-Executive Non-Independent Director.
- Mrs. Nidhi Reddy is proposed for re-appointment as an Independent Director for a second five-year term.
Auditor Appointments:
- M/s. BP & Associates has been proposed as Secretarial Auditors for a five-year term, subject to shareholder approval.
- M/s. RVKS & Associates has been re-appointed as Internal Auditors for the current fiscal year.
Record Date: September 22 has been set as the record date for determining shareholder eligibility for AGM voting.
Share Capital Update: The company received the balance amount of ₹6.3 crore in April for the conversion of warrants into equity shares, which was completed on May 27.

Trading Approval

Indian Terrain has received trading approval from both the National Stock Exchange (NSE) and BSE Limited for 49,48,537 equity shares of ₹2 each, issued at ₹50.52 per share through preferential allotment. These shares will be available for trading from August 12.

The company continues to operate exclusively in the apparel and accessories segment, focusing on improving its financial performance and corporate governance practices.