India Business Excellence Fund III Reduces Stake in MAS Financial Services by 2.07%
India Business Excellence Fund III disposed of 37,50,000 equity shares of MAS Financial Services Limited between July 15, 2025, and January 7, 2026, through open market transactions. The disposal reduced the fund's shareholding from 6.69% to 4.62%, representing a 2.07% decrease. The transaction triggered mandatory disclosure under SEBI Regulation 29(2) when the 2% threshold was breached on January 7, 2026.
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India Business Excellence Fund III, a scheme of Business Excellence Trust III, has reduced its stake in MAS Financial Services Limited through a series of equity share disposals that triggered mandatory regulatory disclosure requirements.
Share Disposal Details
The fund disposed of 37,50,000 equity shares of MAS Financial Services through open market transactions conducted between July 15, 2025, and January 7, 2026. The disclosure obligation under Regulation 29(2) of the SEBI Takeover Regulations was specifically triggered on January 7, 2026, when the fund sold 5,68,640 equity shares, which combined with previous disposals breached the 2% threshold.
| Transaction Details: | Information |
|---|---|
| Total Shares Disposed: | 37,50,000 equity shares |
| Disposal Period: | July 15, 2025 to January 7, 2026 |
| Transaction Mode: | Open Market |
| Percentage Disposed: | 2.07% |
| Threshold Breach Date: | January 7, 2026 |
Shareholding Changes
The disposal significantly reduced India Business Excellence Fund III's ownership in MAS Financial Services. Before the transaction series, the fund held 1,21,33,737 equity shares representing 6.69% of the company's total share capital. Following the disposals, the fund's holding decreased to 83,83,737 equity shares, representing 4.62% of the total shareholding.
| Shareholding Comparison: | Before Disposal | After Disposal | Change |
|---|---|---|---|
| Number of Shares: | 1,21,33,737 | 83,83,737 | -37,50,000 |
| Percentage Holding: | 6.69% | 4.62% | -2.07% |
| Share Value (Face Value ₹10): | ₹12.13 crores | ₹8.38 crores | -₹3.75 crores |
Regulatory Compliance
The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. India Business Excellence Fund III confirmed it does not belong to the promoter or promoter group of MAS Financial Services Limited. The fund operates under the investment management of MO Alternate Investment Advisors Private Limited.
Fund Structure
India Business Excellence Fund III operates as a scheme of Business Excellence Trust III, with MO Alternate Investment Advisors Private Limited serving as its investment manager. The disclosure was signed by Bharat Kedia, Chief Operating Officer, on behalf of the fund on January 9, 2026. MAS Financial Services Limited shares are listed on both the National Stock Exchange of India (Symbol: MASFIN) and BSE Limited (Scrip Code: 540749).
Historical Stock Returns for MAS Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.58% | -1.05% | -8.38% | -16.93% | -12.86% | 0.0% |
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