HDFC Mutual Fund Reduces Jagran Prakashan Stake from 9.16% to 7.13%

Jagran Prakashan has received a regulatory disclosure from HDFC Mutual Fund regarding a significant reduction in shareholding. The asset management company has decreased its stake in the media company from 9.16% to 7.13% as of January 07, 2026, marking a decline of 2.03 percentage points.

Shareholding Details and Timeline

The disclosure, made under SEBI Regulation 29(2) of the Substantial Acquisition of Shares and Takeovers Regulations, 2011, reveals that HDFC Mutual Fund's last reported holding was 9.16% as of April 18, 2019. The current reduction brings the total shareholding to 1,55,27,121 shares, representing 7.13% of Jagran Prakashan's paid-up equity share capital.

Parameter	Previous Holding (April 2019)	Current Holding (January 2026)	Change
Shareholding Percentage	9.16%	7.13%	-2.03%
Number of Shares	2,71,54,199*	1,55,27,121	Decreased
Share Capital Base	₹59.28 crores	₹43.53 crores	Reduced

*Calculated based on previous share capital structure

Transaction Mechanism and Participating Schemes

The shareholding adjustment occurred through open market transactions on January 07, 2026. Multiple HDFC Mutual Fund schemes participated in this transaction, including:

HDFC Multi Cap Fund
HDFC Hybrid Equity Fund
HDFC Small Cap Fund
HDFC Mid Cap Fund

The disclosure indicates that HDFC Asset Management Company Limited acquired 99,957 additional shares representing 0.05% of the total share capital, but the overall percentage holding decreased due to changes in the company's capital structure.

Current Share Capital Structure

Jagran Prakashan's current paid-up equity share capital stands at ₹43.53 crores, comprising 21,76,54,272 equity shares of ₹2.00 each. This represents a reduction from the previous share capital of ₹59.28 crores that comprised 29,64,11,829 equity shares of ₹2.00 each as reported in April 2019.

Share Capital Details	Current Structure
Total Paid-up Capital	₹43.53 crores
Number of Shares	21,76,54,272
Face Value per Share	₹2.00
HDFC MF Holding Value	₹3.11 crores

Regulatory Compliance and Disclosure

The disclosure was submitted to both major stock exchanges where Jagran Prakashan shares are listed - BSE Limited and National Stock Exchange of India Limited. HDFC Asset Management Company Limited, acting as the investment manager for HDFC Mutual Fund schemes, confirmed that it does not belong to the promoter or promoter group of Jagran Prakashan.

Dinesh Bhakade, Deputy Vice President - Compliance at HDFC Asset Management Company Limited, signed the disclosure document dated January 09, 2026. The comprehensive disclosure includes detailed annexures as required under SEBI regulations, providing transparency regarding the mutual fund's investment activities in the media company.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.55%	-1.14%	-1.76%	-5.19%	-13.86%	+60.16%

Jagran Prakashan Limited has received a GST demand order of ₹32,83,687 from tax authorities, which the company intends to challenge based on legal advice. The media company disclosed this development under SEBI regulations, maintaining that it has a strong case on merit against the order.

GST Demand Order Details

The Deputy Commissioner, Central GST & Central Excise, Ranchi issued the demand order dated December 29, 2025, under section 74 of the Central Goods and Services Tax Act, 2017. The order covers the period from 2018-19 to 2022-23 and includes several components:

Component:	Details
Demand Amount:	₹32,83,687
Penalty:	Equivalent amount under section 74
Interest:	Charges under section 50 of the Act
Period Covered:	2018-19 to 2022-23
Authority:	Deputy Commissioner, Central GST & Central Excise, Ranchi

Nature of Alleged Violations

The GST demand order primarily relates to Input Tax Credit entitlement issues. According to the company's disclosure, the order seeks tax payment on the entitlement of Input Tax Credit availed by Jagran Prakashan and corresponding reconciliation with various parameters mentioned in the order.

The company received the order via email on December 29, 2025, and has disclosed the matter in compliance with SEBI regulations regarding material developments.

Company's Response and Legal Position

Jagran Prakashan has expressed confidence in its legal position regarding the GST demand. Based on legal advice obtained, the company believes the order is not tenable and maintains it has a strong case on merit. The media company has indicated it will pursue legal remedies to challenge the demand.

Response Strategy:	Details
Legal Assessment:	Order not tenable, strong case on merit
Planned Action:	File appropriate appeal within prescribed timelines
Alternative Options:	Evaluate other legal options against the order
Financial Impact:	No impact expected based on legal advice

Financial and Operational Impact

According to the company's assessment, there is no expected impact on financials, operations, or other activities of Jagran Prakashan pursuant to the receipt of the order. This assessment is based on legal advice indicating that the order is apparently not tenable and the company has a strong case on merit.

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has made the information available on its website at www.jplcorp.com for stakeholder reference.