What’s new

• Craft Emerging Market Fund's sub-funds acquired 10,132,543 shares, or 6.42% of Pashupati Cotspin, via open-market buys in February 2025.
• The company's regulatory filing is dated 5 June 2026, over 16 months after the transaction.
• The funds are not part of the promoter or promoter group.

Why it matters

A 6.4% stake in a ₹1,420 crore company is material. The delay is the real issue. SEBI requires timely disclosure of material shareholding changes, and a 16-month lag means the market traded on outdated ownership data without knowing it.

What we’re watching

• Whether Craft increases its position further.
• Any regulatory response to the late disclosure.
• Changes in Pashupati Cotspin's shareholder base or liquidity.

The full read

Craft Emerging Market Fund's sub-funds bought 6.42% of Pashupati Cotspin through open-market trades in February 2025. It took until 5 June 2026 for the company to file. That's a 16-month lag.

In a ₹1,420 crore textile firm, this is one of the largest non-promoter holdings. The source offers no explanation for the delay. SEBI's listing rules require prompt disclosure of material shareholding changes. The transaction itself is standard. An institutional fund buying a mid-single-digit stake is not unusual. The delay is the story.

A holding this size in a company this small carries weight. The late filing means investors traded on stale ownership data for over a year.

Primary source: BSE · NSE