MFs invest over Rs 2,688 crore across five IPOs in June

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Mutual fund participation in IPO anchor placements remained strong in June, with investments exceeding Rs 2,688 crore across five of the eight IPOs launched during the month. Meanwhile, MFs during the month abstained from both anchor investments and public subscriptions in three issues—Globe Civil Projects, Arisinfra Solutions, and Indogulf Cropsciences.

The eight IPOs collectively raised over Rs 17,688 crore. Of these, Oswal Pumps, Kalpataru Projects, Ellenbarrie Industrial Gases, HDB Financial Services, and Sambhav Steel Tubes witnessed meaningful interest from mutual funds.

Ellenbarrie Industrial Gases mobilised Rs 428 crore from mutual funds out of a Rs 852 crore issue. Motilal Oswal Securities led with an investment of over Rs 273 crore, followed by Axis Mutual Fund at over Rs 40 crore. HDFC and Tata Mutual Fund contributed nearly Rs 28 crore each in the anchor book.

HDB Financial Services attracted anchor commitments from 21 mutual funds, securing Rs 1,400 crore in a Rs 12,500 crore IPO. ICICI Prudential Mutual Fund led with over Rs 200 crore, followed by SBI Mutual Fund and Kotak Mahindra Mutual Fund, investing over Rs 173 crore and Rs 150 crore, respectively. DSP, Axis, and Aditya Birla Mutual Funds each invested close to Rs 100 crore.

Kalpataru Projects saw mutual fund allocations of Rs 377 crore in its Rs 1,590 crore offering. SBI Mutual Fund emerged as the largest investor with nearly Rs 295 crore, while Tarus and ICICI Prudential Mutual Funds invested Rs 71 crore and Rs 11 crore, respectively.

Oswal Pumps secured Rs 432 crore from mutual funds in its Rs 1,388 crore IPO. Quant Mutual Fund was the top investor with over Rs 134 crore, followed by Mahindra Manulife Mutual Fund at over Rs 111 crore. Kotak Mahindra, Aditya Birla Sun Life, and ICICI Prudential Mutual Funds each contributed over Rs 32 crore.

Sambhav Steel Tubes received Rs 55 crore from mutual funds in a Rs 540 crore issue, with Motilal Oswal Mutual Fund investing over Rs 29.8 crore and Whiteoak Capital Mutual Fund contributing over Rs 25 crore.