SBI Mutual Fund has reduced its ownership in Ather Energy, bringing its total stake down to 5% of the electric vehicle manufacturer.
The fund house executed the sale by offloading 616,733 shares, a transaction that represents 0.1565% of the company’s paid-up share capital.
The reduction marks a 2 percentage point decrease in the fund’s previous holding.
The divestment is characterized as partial profit booking, suggesting the fund is locking in gains from the earlier rally in Ather Energy’s shares.
This action reflects a tactical rebalancing within the fund’s portfolio rather than a fundamental shift in outlook on the Indian EV market.
Investors may view the move as a signal of near-term valuation concerns or a rotation into other growth sectors.