Nippon India Mutual Fund increased its stake in PNC Infratech from 1.44% to 3.14%, acquiring 43,61,439 shares through a rights issue.
A leading infrastructure development and construction company in India, PNC Infratech undertakes major projects spanning highways, bridges, flyovers, power transmission lines and towers, airport runways, and industrial area development. The company delivers comprehensive end-to-end infrastructure solutions across diverse sectors, establishing itself as a front-runner in the country's infrastructure development and construction landscape with a focus on quality execution and timely project delivery.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.
