Rs 3,200 crore-bet! Mutual funds applied for all 8 IPOs in November

NEW DELHI: By deploying around Rs 3,200 crore, mutual funds participated in all the eight IPOs launched in the month of November, shows a report by Nuvama Wealth.

MFs deployment at the end of November stood at Rs 980 crore in Global Health, Rs 930 crore in Archean Chemical, Rs 530 crore in Bikaji Foods, Rs 350 crore in Fusion Micro Fin, Rs 220 crore in Kaynes Tech, Rs 140 crore in Fivestar Biz Fin, Rs 100 crore in Keystone Realtors and Rs 50 crore in Inox Green.

Mutual funds owning shares of Medanta chain of hospitals operator Global Health includes Axis Mutual Fund, Franklin Templeton, Kotak, Motilal Oswal and HDFC AMC. Shares of the hospital stock are trading higher by over 34% from its IPO issue price of Rs 336.

Bikaji was picked by Quant MF, Aditya Birla AMC, Edelweiss and Kotak. The stock of the snacks maker is up over 30% from its issue price of Rs 300.

Shares of Keystone were near its IPO issue price of Rs 541 while Inox Green stock has made IPO investors lose money. The remaining four debutants were trading higher than their IPO prices.

In the secondary market, MFs picked HDFC Bank, Axis Bank, whereas they trimmed holdings in ICICI Bank, HCL Technologies and Kotak Mahindra Bank, shows the report. Key additions in midcaps were Delhivery, Max Financial, and PB Fintech.