Japan's Mitsubishi UFJ Financial Group (MUFG) has acquired significant stakes in several Indian firms, including Dr Reddy's Labs, Tech Mahindra, Tata Global Beverages, Godrej Consumer, Marico and Cyient through the acquisition of entities that hold shares of the companies.

The acquisitions of indirect stakes in different companies follow MUFG's acquisition of First State Investments (UK), First State Investments (Singapore) Colonial First State Asset Management (Australia), First State Investments Ltd, Mitsubishi UFJ Trust and Banking Coporation and Mitsubishi UFJ Kokusai Asset Management on August 2.

These entities held stakes in the said companies, according to separate regulatory filings.

Godrej Consumer Products Ltd (GCPL) said following the transaction, MUFG has an aggregated interest of 5.47 percent. Similarly, Marico Ltd said MUFG's stake in it has gone up to 6.47 percent from 0.02 percent earlier.

Pharma major Dr Reddy's said MUFG has acquired an indirect interest amounting to 8.41 percent, up from 0.05 percent stake earlier. Likewise, MUFG also acquired an indirect interest of 9.93 percent stake in Tata Global Beverages following the acquisition of entities that hold shares of the company.

A filing by Tech Mahindra showed that MUFG had acquired an indirect interest of 9.01 percent.

"The thresholds for disclosures ...are met and currently, MUFG has an aggregated interest in Tech Mahindra of 9.01 percent ordinary share capital as on August 2, 2019, which is the date of acquisition. This is based upon a total of 88,786,599 shares held and a total of 9,85,201,274 voting rights on issue," it said.

Similarly, a filing by Cyient said MUFG has acquired an indirect interest of 9.81 per cent in the company.

First Published:Aug 7, 2019 6:46 AM IST