Ownership
Ownership in One Page
The shareholder register shows a healthy institutional drift: domestic institutional investors (primarily mutual funds) have accumulated 9.6 percentage points over 24 months, while FII has exited steadily. Promoters remain firmly in control at 51.4%, with no pledging concerns disclosed. The headline event is Tata Mutual Fund crossing 5% on March 10, 2026—signaling strong conviction in the story from a quality-focused investor. Free float sits at 48.6%, adequate for institutional position sizing. The single ownership signal to watch is whether DII accumulation sustains post-FY26 results, or if it signals a temporary tactical trade ahead of profit-taking.
Promoter Stake %
FII Stake %
DII Stake %
Promoter Pledge %
Ownership Structure
The ownership structure is balanced between promoter control and institutional participation. Promoters retain 51.41%, giving founders decisive control. Domestic institutions (mutual funds, insurance, domestic funds) account for 14.31%, representing meaningful institutional conviction. Foreign institutions have contracted to 3.15%, signaling either profit-taking on valuation or portfolio rotation. The retail shareholder base remains substantial at 31.12%, typical for a ₹5,895 Cr mid-cap technology company listed in 2021. Free float is adequate at 48.6%, supporting institutional position building without creating liquidity constraints.
Ownership Trend (12 Quarters)
The trend reveals a structural reallocation over 24 months. Promoters have diluted gradually from 53.31% to 51.41% (down 1.9 pp), suggesting organic share sales or small secondary offerings, not stress. FII have been consistent sellers, declining 1.6 pp from peak 6.73% (Mar-24) to trough 3.15% (Mar-26), indicating either valuation concerns or portfolio rebalancing away from small-cap Indian tech. DII accumulation has been dramatic and accelerating, jumping from 4.73% (Mar-24) to 14.31% (Mar-26)—a gain of 9.6 pp in just two years. This trend accelerated in FY2026, with Q1 and Q2 showing the fastest inflows (Jun-25: +3.2 pp, Sep-25: +1.0 pp, Dec-25: +0.9 pp). The recent flatness in promoter and FII (Mar-26 vs Dec-25) suggests the market has found a near-term equilibrium, but DII conviction remains the dominant force.
Promoter Health
No promoter pledge has been disclosed in recent filings (through Mar 31, 2026). The promoter stake has edged down from 52.91% (Mar-24) to 51.41% (Mar-26), a gentle 1.5 pp reduction over two fiscal years. This decline is not stress-driven — it reflects gradual market sales or small structural offerings, not forced liquidations. Rakesh Kumar Verma (MD & Founder) and Rashmi Verma (Co-Founder, CTO & ED) remain day-to-day stewards alongside Rohan Verma (CEO). The promoter group has demonstrated financial discipline: no large secondary offerings, no surprise pledging, and consistent dividend payouts (₹3.5/share FY25, ₹3.5/share FY24). Combined with a market cap of ₹5,895 Cr and 51.4% stake (~₹3,022 Cr), the founder position is substantial and deeply liquid if capital were needed. Pledge risk is None.
Institutional Footprint
Tata Mutual Fund is the headline institutional player, having crossed the 5% disclosure threshold on March 10, 2026. The fund acquired 1,00,000 shares on March 4, 2026 (secondary market), raising its total holding from 27.23 lakhs to 28.23 lakhs shares (4.976% → 5.159%). This transaction signal conviction from a quality-focused domestic investor. Tata Small Cap Fund (a sub-scheme) accounts for approximately 2.33% of the holding, indicating a tilt toward small-cap opportunities.
Other named mutual fund holders include ICICI Prudential (two schemes: Retirement Hybrid Aggressive at 0.74%, Pure Equity at 0.54%) and DSP Value Fund (0.64%), collectively representing the DII wing's diversified participation. These funds are categorized as long-only fundamentals-focused, suggesting patient capital building on business fundamentals rather than tactical trading.
No named insurance or sovereign wealth funds appear in the top 10 disclosed holders, though the insurance category shows 1.9% aggregate stake (likely represented by smaller HDFC Life, Axis, SBI Life positions). The absence of major hedge fund or private equity names in the 5%+ disclosure list suggests MAPMYINDIA is not a consensus deep-value play for international short-term capital.
Supply & Demand Calendar
Confirmed events:
- Tata MF crosses 5% (Mar 10, 2026): Already occurred. Signals quality-investor conviction and requires no further Reg 29 disclosures unless stake breaches 10%.
Likely near-term events:
- Q4 FY26 results (~May 31, 2026): Dividend clarity will shape next quarter's institutional flow. If FY26 maintains ₹3.5/share payout, it attracts dividend-focused schemes.
- MSCI/Russell rebalance (June 30, 2026): Routine rebalance unlikely to materially move MAPMYINDIA given its mid-cap weight; no supply shock expected.
Possible medium-term events:
- FII re-entry or stabilization (Sep-Dec 2026): If FY26 earnings beat expectations and DII enthusiasm sustains, could attract value-conscious foreign funds, stabilizing FII at ~4-5%.
- ESOP vesting (FY2027): Company has had nearly 5 years post-IPO (Dec-2021); if employee ESOPs are vesting with 4-5 year cliffs, expect modest supply pressure from employee selling in H1 FY2027. Monitor promoter disclosures for cliff vesting dates.
No current index inclusion/exclusion signal: MAPMYINDIA is not a Nifty 50 candidate (would require ~₹10T+ mkt cap) and is already in Nifty 500/MidSmallcap 400, so passive rebalancing is unlikely to be a material driver.
Short Interest and Borrow
Short interest data is not publicly reported for NSE/BSE-listed companies in the manner available for US-listed equities. Borrow demand (stock lending) for MAPMYINDIA is not disclosed by brokers or stock lending platforms at individual-security granularity in India.
Implication: Without short interest disclosure, we cannot flag a squeeze risk or infer strong negative conviction from shorters. This is a data gap for Indian equities and should not be interpreted as "no shorts exist."
What to Watch
The first ownership signal to watch is DII inflow sustainability in Q1 FY27. If domestic mutual funds and insurance companies continue to accumulate at >1 pp/quarter, the thesis that MAPMYINDIA is a quality long-term hold (strong fundamentals, founder-led, return of capital via dividends) remains intact. If inflows decelerate or reverse, it signals valuation exhaustion or emerging visibility concerns on growth—a critical inflection point for the stock.
Summary of Sources
Files Read:
data/sherlock/financials/shareholding.json(12-quarter history, Jun 2023–Mar 2026)data/sherlock/insider_activity.json(Tata MF threshold event, Feb 2026)data/sherlock/board.json(board composition, dividends, index memberships)data/company.json(company profile, market data as of May 11, 2026)data/tech/unusual_volume.json(trading volume context)- Web research: InvestyWise (Tata MF Reg 29 filing), Groww (mutual fund holdings detail), Trendlyne (shareholding pattern), Screener.in (institutional detail)
Data Quality Notes:
- Shareholding pattern updated quarterly as of latest NSE/BSE filings (Mar 31, 2026 data captured as of May 12, 2026).
- Mutual fund holdings derived from Groww and exchange disclosures; fund names are point-in-time estimates from public data and may reflect changes month-to-month.
- No promoter pledge disclosed; interpreted as "clean" position until evidence of pledging emerges.
- Short interest data not available for NSE-listed stocks; UK/US markets disclose this; India does not.
- Block/bulk deal data sourced from exchange announcements; no recent large insider or strategic deals identified.