Bandhan Value Fund - Regular Plan - IDCW

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Category : Value Fund

Portfolio Turnover Ratio : 65.00%. Category average turnover ratio is 233.87%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 91.56% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 91.56%

No of Stocks : 60 (Category Avg - 59.90) | Large Cap Investments : 57.62%| Mid Cap Investments : 9.81% | Small Cap Investments : 11.19% | Other : 12.94%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	60	59
Top 5 Stock Weight	26.77%	24.35%
Top 10 Stock Weight	39.89%	39.15%
Top 3 Sector Weight	38.2%	31.63%

Category - Value Fund

Particulars	This Scheme	Category
Average mcap (Cr)	166851.85	107642.54
Holdings in large cap stocks	57.62%	44.46%
Holdings in mid cap stocks	9.81%	12.44%
Holdings in small cap stocks	11.19%	14.57%

Category - Value Fund

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	8095.9	7.86%	0.02%	8.3% (Jul 2025)	5.9% (Nov 2024)	82.00 L	0.00
Reliance Industries Ltd.	Refineries & marketing	7432	7.21%	0.35%	7.33% (Jun 2025)	4.76% (Nov 2024)	50.00 L	0.00
Kotak Mahindra Bank Ltd.	Private sector bank	4309.5	4.18%	0.07%	4.18% (Oct 2025)	0% (Nov 2024)	20.50 L	0.00
Tata Consultancy Services Ltd.	Computers - software & consulting	4051.9	3.93%	0.23%	3.93% (Oct 2025)	2.34% (Nov 2024)	13.25 L	50.00 k
Axis Bank Ltd.	Private sector bank	3698.4	3.59%	0.18%	5.7% (Apr 2025)	3.19% (Aug 2025)	30.00 L	0.00
ICICI Bank Ltd.	Private sector bank	3228.7	3.13%	-0.12%	3.92% (Jan 2025)	3.13% (Oct 2025)	24.00 L	0.00
Infosys Ltd.	Computers - software & consulting	2964.6	2.88%	-0.02%	2.94% (Jan 2025)	2.3% (Apr 2025)	20.00 L	0.00
Hero Motocorp Ltd.	2/3 wheelers	2633.4	2.56%	-0.05%	2.61% (Sep 2025)	1.78% (Dec 2024)	4.75 L	0.00
State Bank Of India	Public sector bank	2421.6	2.35%	0.08%	2.35% (Oct 2025)	0% (Nov 2024)	25.84 L	0.00
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2266	2.20%	-0.06%	2.26% (Sep 2025)	1.64% (Dec 2024)	1.40 L	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
HDFC Bank Ltd.	Private sector bank	21.3	8095.9	7.86%	0.02%	8.3% (Jul 2025)	5.9% (Nov 2024)	82.00 L	0.00	Other	12.94
Reliance Industries Ltd.	Refineries & marketing	8.45	7432	7.21%	0.35%	7.33% (Jun 2025)	4.76% (Nov 2024)	50.00 L	0.00	Large Cap	57.62
Kotak Mahindra Bank Ltd.	Private sector bank	21.3	4309.5	4.18%	0.07%	4.18% (Oct 2025)	0% (Nov 2024)	20.50 L	0.00	Large Cap	57.62
Tata Consultancy Services Ltd.	Computers - software & consulting	8.45	4051.9	3.93%	0.23%	3.93% (Oct 2025)	2.34% (Nov 2024)	13.25 L	50.00 k	Large Cap	57.62
Axis Bank Ltd.	Private sector bank	21.3	3698.4	3.59%	0.18%	5.7% (Apr 2025)	3.19% (Aug 2025)	30.00 L	0.00	Large Cap	57.62
ICICI Bank Ltd.	Private sector bank	21.3	3228.7	3.13%	-0.12%	3.92% (Jan 2025)	3.13% (Oct 2025)	24.00 L	0.00	Large Cap	57.62
Infosys Ltd.	Computers - software & consulting	8.45	2964.6	2.88%	-0.02%	2.94% (Jan 2025)	2.3% (Apr 2025)	20.00 L	0.00	Large Cap	57.62
Hero Motocorp Ltd.	2/3 wheelers	2.56	2633.4	2.56%	-0.05%	2.61% (Sep 2025)	1.78% (Dec 2024)	4.75 L	0.00	Large Cap	57.62
State Bank Of India	Public sector bank	2.35	2421.6	2.35%	0.08%	2.35% (Oct 2025)	0% (Nov 2024)	25.84 L	0.00	Large Cap	57.62
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2.2	2266	2.20%	-0.06%	2.26% (Sep 2025)	1.64% (Dec 2024)	1.40 L	0.00	Large Cap	57.62
Jindal Steel Ltd.	Iron & steel products	2.07	2133.6	2.07%	-0.07%	2.42% (Mar 2025)	1.92% (Aug 2025)	20.00 L	0.00	Mid Cap	9.81
National Thermal Power Corporation Ltd.	Power generation	2.04	2105.9	2.04%	-0.10%	2.14% (Sep 2025)	1.34% (May 2025)	62.50 L	0.00	Large Cap	57.62
ITC Limited	Diversified fmcg	2.04	2101.8	2.04%	0.02%	2.19% (Dec 2024)	1.83% (Jun 2025)	50.00 L	0.00	Large Cap	57.62
Mahindra & Mahindra Financial Services Ltd.	Non banking financial company (nbfc)	4.38	2019.5	1.96%	0.19%	1.96% (Oct 2025)	1.07% (Dec 2024)	64.00 L	0.00	Mid Cap	9.81
ICICI Lombard General Insurance Co Ltd.	General insurance	1.94	1993.7	1.94%	0.04%	1.99% (Jun 2025)	1.73% (Dec 2024)	10.00 L	0.00	Large Cap	57.62
HDFC Life Insurance Company Ltd.	Life insurance	2.7	1902.8	1.85%	-0.13%	2.07% (Jun 2025)	1.3% (Dec 2024)	26.00 L	0.00	Large Cap	57.62
Bosch Ltd.	Auto components & equipments	2.17	1862.3	1.81%	-0.18%	2.11% (Jul 2025)	1.53% (Feb 2025)	50.00 k	-1.84 k	Large Cap	57.62
Magma Fincorp Ltd.	Non banking financial company (nbfc)	4.38	1734.7	1.68%	-0.12%	1.8% (Sep 2025)	1.04% (Dec 2024)	36.00 L	0.00	Small Cap	11.19
Vedanta Ltd.	Diversified metals	1.68	1727.4	1.68%	0.04%	1.68% (Oct 2025)	1.21% (Dec 2024)	35.00 L	0.00	Large Cap	57.62
Wipro Ltd.	Computers - software & consulting	8.45	1684.7	1.64%	-0.05%	1.69% (Sep 2025)	0% (Nov 2024)	70.00 L	0.00	Large Cap	57.62
V-Mart Retail Ltd.	Diversified retail	1.6	1650.6	1.60%	0.18%	1.84% (Dec 2024)	1.42% (Sep 2025)	19.90 L	0.00	Small Cap	11.19
IDFC First Bank Ltd.	Private sector bank	21.3	1594.5	1.55%	0.18%	1.55% (Oct 2025)	0% (Nov 2024)	1.95 Cr	0.00	Mid Cap	9.81
United Spirits Ltd.	Breweries & distilleries	2.58	1574.5	1.53%	0.06%	1.53% (Oct 2025)	0.86% (Feb 2025)	11.00 L	0.00	Large Cap	57.62
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	5.17	1521.6	1.48%	0.04%	1.69% (Apr 2025)	1.44% (Sep 2025)	9.00 L	0.00	Large Cap	57.62
Aurobindo Pharma Ltd.	Pharmaceuticals	5.17	1474.9	1.43%	0.02%	1.63% (Apr 2025)	1.35% (Aug 2025)	12.95 L	0.00	Large Cap	57.62
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	2.3	1473.3	1.43%	-0.17%	2.2% (Dec 2024)	1.43% (Oct 2025)	20.00 L	-1.50 L	Small Cap	11.19
Avanti Feeds Ltd.	Animal feed	1.42	1464.5	1.42%	0.07%	2.13% (Mar 2025)	1.35% (Sep 2025)	21.00 L	0.00	Small Cap	11.19
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	1.23	1267.3	1.23%	0.03%	1.51% (Jan 2025)	0.96% (May 2025)	49.63 L	0.00	Large Cap	57.62
Larsen & Toubro Ltd.	Civil construction	1.17	1209.3	1.17%	0.07%	1.67% (Nov 2024)	1.03% (Apr 2025)	3.00 L	0.00	Large Cap	57.62
Dr. Reddys Laboratories Ltd.	Pharmaceuticals	5.17	1197.6	1.16%	-0.07%	1.28% (Aug 2025)	0.9% (Nov 2024)	10.00 L	0.00	Other	12.94
Lupin Ltd.	Pharmaceuticals	5.17	1129	1.10%	-0.01%	1.42% (Dec 2024)	1.09% (Jun 2025)	5.75 L	0.00	Large Cap	57.62
United Breweries Ltd.	Breweries & distilleries	2.58	1078.4	1.05%	0.02%	1.05% (Oct 2025)	0.68% (Nov 2024)	6.00 L	32.41 k	Large Cap	57.62
Bandhan Bank Ltd.	Private sector bank	21.3	1017.6	0.99%	-0.07%	1.21% (Jun 2025)	0.84% (Nov 2024)	65.00 L	0.00	Large Cap	57.62
Asian Paints (india) Ltd.	Paints	0.97	1004.3	0.97%	0.02%	1.66% (Aug 2025)	0% (Nov 2024)	4.00 L	0.00	Large Cap	57.62
Sobha Ltd.	Residential, commercial projects	0.9	923	0.90%	0.02%	0.92% (Jul 2025)	0.74% (Mar 2025)	5.70 L	0.00	Small Cap	11.19
The Ramco Cements Ltd.	Cement & cement products	0.89	913.9	0.89%	0.02%	1.03% (Jul 2025)	0.81% (Feb 2025)	8.75 L	0.00	Mid Cap	9.81
KEC International Ltd.	Heavy electrical equipment	2.3	899.5	0.87%	-0.10%	1.89% (Nov 2024)	0.87% (Oct 2025)	11.00 L	0.00	Small Cap	11.19
Greenpanel Industries Ltd.	Plywood boards/ laminates	0.84	861.8	0.84%	0.02%	1.18% (Dec 2024)	0.74% (Apr 2025)	30.25 L	0.00	Other	12.94
Emami Ltd.	Personal care	0.78	801.6	0.78%	0.06%	0.78% (Oct 2025)	0% (Nov 2024)	15.00 L	1.75 L	Mid Cap	9.81
Mas Financial Services Ltd.	Non banking financial company (nbfc)	4.38	763.6	0.74%	-0.02%	0.79% (Jul 2025)	0.66% (Feb 2025)	25.00 L	1.03 k	Small Cap	11.19
Crompton Greaves Consumer Electricals Ltd.	Household appliances	0.74	763.3	0.74%	-0.05%	0.96% (May 2025)	0.54% (Jan 2025)	27.00 L	0.00	Mid Cap	9.81
VRL Logistic Ltd.	Logistics solution provider	0.73	754.5	0.73%	-0.15%	1.07% (May 2025)	0.73% (Oct 2025)	26.96 L	-5.04 L	Small Cap	11.19
Sterlite Technologies Ltd.	Other telecom services	0.72	740.1	0.72%	0.01%	0.75% (Jul 2025)	0% (Nov 2024)	63.00 L	1.00 L	Small Cap	11.19
Adani Wilmar Ltd.	Edible oil	0.67	687.1	0.67%	0.01%	0.67% (Oct 2025)	0% (Nov 2024)	25.00 L	0.00	Other	12.94
Aptus Value Housing Finance India Ltd.	Housing finance company	0.65	667	0.65%	-0.03%	0.68% (Sep 2025)	0% (Nov 2024)	21.00 L	0.00	Other	12.94
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	8.45	666.4	0.65%	0.03%	0.65% (Oct 2025)	0% (Nov 2024)	14.00 L	0.00	Large Cap	57.62
Info Edge (India) Ltd.	Internet & catalogue retail	0.6	620.2	0.60%	0.01%	0.6% (Oct 2025)	0% (Nov 2024)	4.50 L	0.00	Other	12.94
Bharat Petroleum Corporation Ltd.	Refineries & marketing	8.45	606.6	0.59%	0.01%	0.59% (Oct 2025)	0% (Nov 2024)	17.00 L	0.00	Large Cap	57.62
Bayer Cropscience Ltd.	Pesticides & agrochemicals	0.55	561.7	0.55%	-0.01%	0.56% (Sep 2025)	0% (Nov 2024)	1.15 L	0.00	Mid Cap	9.81
Kirloskar Ferrous Industries Ltd.	Pig iron	0.45	465.3	0.45%	-0.03%	0.82% (Dec 2024)	0.45% (Oct 2025)	9.00 L	0.00	Small Cap	11.19
Max Financial Services Ltd.	Life insurance	2.7	464	0.45%	0.13%	0.45% (Oct 2025)	0% (Nov 2024)	3.00 L	1.00 L	Mid Cap	9.81
Nestle India Ltd.	Packaged foods	0.43	445.1	0.43%	0.02%	0.43% (Oct 2025)	0% (Nov 2024)	3.50 L	0.00	Other	12.94
EIH Ltd	Hotels & resorts	0.42	428.8	0.42%	-0.09%	1.03% (Dec 2024)	0.42% (Oct 2025)	11.00 L	-3.00 L	Mid Cap	9.81
Bata India Ltd.	Footwear	0.4	415.8	0.40%	-0.34%	0.74% (Sep 2025)	0.4% (Oct 2025)	3.88 L	-2.42 L	Mid Cap	9.81
ICICI Prudential Life Insurance Co Ltd.	Life insurance	2.7	413.8	0.40%	-0.50%	1% (May 2025)	0% (Nov 2024)	7.00 L	-8.00 L	Large Cap	57.62
Updater Services Ltd.	Diversified commercial services	0.37	378.5	0.37%	-0.03%	0.68% (Nov 2024)	0.37% (Oct 2025)	16.00 L	0.00	Other	12.94
UNO Minda Ltd.	Auto components & equipments	2.17	370.6	0.36%	-0.03%	1.02% (Nov 2024)	0.36% (Oct 2025)	3.00 L	0.00	Small Cap	11.19
Deepak Nitrite Ltd.	Specialty chemicals	0.29	302.5	0.29%	-0.03%	0.68% (Nov 2024)	0.29% (Oct 2025)	1.75 L	0.00	Small Cap	11.19
Ujjivan Small Finance Bank Ltd.	Other bank	0.2	207.4	0.20%	0.01%	0.2% (Oct 2025)	0% (Nov 2024)	40.00 L	0.00	Other	12.94
STL Networks Ltd.	Telecom - equipment & accessories	0.16	162.7	0.16%	-0.02%	0.18% (Sep 2025)	0% (Nov 2024)	62.00 L	0.00	Other	12.94

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
No new entrants in the portfolio in the last month.

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
No complete exits in the portfolio in the last month.

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	7.86%	7.84%	7.93%	8.30%	8.02%	8.01%	8.08%	7.95%	7.90%	7.26%	6.06%	5.90%	5.71%
Reliance Industries Ltd.	7.21%	6.86%	6.90%	6.98%	7.33%	7.13%	7.19%	6.76%	6.67%	6.60%	5.99%	4.76%	4.65%
Axis Bank Ltd.	3.59%	3.41%	3.19%	3.22%	4.69%	5.63%	5.70%	5.49%	5.08%	4.42%	4.17%	4.07%	4.16%
ICICI Bank Ltd.	3.13%	3.25%	3.41%	3.57%	3.53%	3.63%	3.65%	3.57%	3.35%	3.92%	3.87%	3.88%	3.86%
Tata Consultancy Services Ltd.	3.93%	3.70%	3.76%	3.35%	3.22%	3.13%	3.18%	3.04%	3.08%	3.41%	2.88%	2.34%	2.17%
Kotak Mahindra Bank Ltd.	4.18%	4.11%	4.08%	4.07%	3.60%	3.02%	2.88%	2.42%	2.12%	0.99%	-	-	-
Jindal Steel Ltd.	2.07%	2.14%	3.84%	-	-	-	-	-	-	-	-	-	-
Jindal Steel & Power Ltd.	-	-	-	1.94%	2.30%	2.38%	2.29%	2.42%	2.38%	2.06%	2.34%	2.25%	2.29%
Infosys Ltd.	2.88%	2.90%	2.84%	2.42%	2.51%	2.35%	2.30%	2.50%	2.81%	2.94%	2.65%	2.59%	2.23%
Hero Motocorp Ltd.	2.56%	2.61%	2.46%	2.14%	2.07%	2.16%	1.96%	1.88%	1.92%	2.13%	1.78%	2.01%	2.11%
ITC Limited	2.04%	2.02%	2.08%	2.07%	1.83%	1.89%	1.96%	1.96%	1.98%	2.10%	2.19%	2.13%	2.19%
CG Power and Industrial Solutions Ltd.	1.43%	1.60%	1.62%	1.79%	2.00%	2.07%	1.92%	2.03%	1.91%	1.99%	2.20%	2.18%	2.18%
Maruti Suzuki India Ltd.	2.20%	2.26%	2.10%	1.90%	1.82%	1.86%	1.88%	1.83%	1.99%	1.93%	1.64%	1.65%	1.66%
ICICI Lombard General Insurance Co Ltd.	1.94%	1.90%	1.87%	1.90%	1.99%	1.93%	1.92%	1.85%	1.80%	1.86%	1.73%	1.78%	1.83%
Indusind Bank Ltd.	-	-	-	-	-	-	-	1.38%	2.20%	2.07%	1.93%	1.88%	1.68%