3M India Limited
Nippon India Mutual Fund took a new position in 3M India Limited, acquiring 2,77,970 shares valued at ₹969.45 crore, representing a 2.47% stake.
A subsidiary of 3M Company USA, this diversified manufacturer operates across four core segments: safety and industrial products, transportation and electronics, healthcare solutions, and consumer goods. The company maintains manufacturing facilities in Ahmedabad, Bangalore, and Pune, supported by a research and development center in Bangalore. It serves multiple industries through innovative products and solutions developed locally for the Indian market.
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.