In latest development, Japan’s largest lender Mitsubishi UFJ Financial Group has sold an indirect interest in Indiamart Intermesh. The share sale was for a total 2% stake from the earlier 5.13%. The holding after the sale is at 3.12%
The stock exchange filing clarified that the stake reduction is on account of sale of the following entities – First Sentier Investors (Australia) IM, First Sentier Investors (Australia) RE, First Sentier Investors (UK) IM and First Sentier Investors International IM on March 17, 2025. “The indirect sale of shares in the target company is on account of sale by MUFG of entities holding shares in the target company,” the release om the stock exchange stated. In this case, the target company is Indiamart Intermesh.
The exchange filing stated that, “These entities directly hold shares in Indiamart Intermesh and currently, MUFG has an aggregated interest in Indiamart Intermesh of 3.12% ordinary share capital, as on March 17, which is the date of sale. This is based upon a total of 1,875,224 shares held and a total of 60,032,148 voting rights on issue.”
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One of the largest lenders in Japan, Mitsubishi UFJ Financial Group has been actively investing in India. As per 2019 data, it had bought sales in marquee companies like Dr Reddy’s, Tech Mahindra and Godrej Consumers. News reports indicated that it had sold 2% stake in Cipla in 2020 via indirect sale and the holding there also came down closer to 3% levels.
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