ICICI Prudential Mutual Fund has significantly increased its stake in SBI Cards and Payment Services to 7.30% through strategic open-market purchases. The mutual fund acquired a net 21,60,916 equity shares on August 25, 2026, representing a substantial increase from its earlier 5.18% stake in the credit card issuer. According to the latest disclosure filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the fund's total shareholding now exceeds the 2% threshold relative to its previous disclosure. The fund has reported a net acquisition of 2,01,71,877 equity shares since its last disclosure, demonstrating its continued confidence in the company's prospects.
The latest acquisition was executed on August 25, 2026, involving the purchase of 21,60,916 shares through open-market transactions. As reported by The Economic Times, the transaction was conducted for investment purposes and does not involve any intention to acquire control of the company. The mutual fund's total holding in the credit card issuer now stands at 7.30% following this significant stake increase. The company's total equity share capital stands at ₹9,51,61,45,080, comprising 95,16,14,508 shares of face value ₹10 each after the acquisition. The fund's total voting rights have increased to 6,94,79,386 shares, reflecting the substantial increase in its shareholding.
The increased holding marks a significant rise from ICICI Prudential Mutual Fund's earlier disclosed stake of 5.18%, indicating the fund's continued confidence in SBI Cards and Payment Services. Since the last regulatory filing on April 26, 2024, the fund has accumulated a net total of 2,01,71,877 shares, bringing its total voting rights to 6,94,79,386 shares. The diluted share capital is recorded at ₹9,52,00,55,540, comprising 95,20,05,554 shares, reflecting the impact of this substantial stake increase on the company's capital structure. The fund's investment strategy demonstrates its focus on the credit card sector and its belief in the company's long-term growth prospects.
