As many as 12 stocks debuted in various mutual fund portfolios in July, with Emcure Pharmaceutical leading the pack, as funds get active in the anchor book of newly-listed companies apart from bidding in the initial public offers (IPOs), a Moneycontrol analysis showed.
A significant part of mutual fund investments in July was ploughed into newly-listed companies like Emcure Pharmaceuticals, Bansal Wire Industries, and Akums Drugs & Pharma among others.
Data showed mutual funds bought 6.59 million shares of Emcure Pharmaceuticals worth Rs 860 crore, followed by Bansal Wire Industries and Pearl Global Industries with investments of Rs 506 crore and Rs 327 crore, respectively, in July.
Debut Delight
Emcure Pharma, which made its debut on July 11, saw its stock close at a 35% premium at Rs 1,361 per share. Bansal Wire Industries, which listed on July 10, surged with a 37% premium from its price band of Rs 256 per share. Akums Drugs & Pharmaceuticals listed on 7 August with a premium of 17 percent from its issue price of Rs 679 a share.
Around 19 mutual funds invested in Emcure Pharma, while 11 acquired stakes in Bansal Wire Industries.
Top Suitors of New Names
Nippon India MF was the largest buyer of Emcure Pharma, acquiring 14.98 lakh shares worth Rs 195.64 crore. Aditya Birla Sun Life MF and Mahindra Manulife MF followed with investments of Rs 129 crore and Rs 91 crore, respectively. Bajaj Finserv and HDFC MFs also invested, purchasing stakes worth Rs 80 crore and Rs 53 crore, respectively. Axis MF, ICICI Prudential MF, and SBI MF each bought stakes worth around Rs 39 crore.
In Bansal Wire Industries, Kotak Mahindra MF led with a Rs 144 crore investment, followed by Invesco and HSBC MF with Rs 90 crore and Rs 67 crore, respectively. DSP, HDFC and SBI MF too participated, with investments of Rs 55 crore, Rs 40 crore, and Rs 39 crore, respectively.
In Pearl Global Industries, HDFC MF led the buying spree, acquiring shares worth around Rs 203 crore. ICICI Prudential MF and Tata MF followed with investments of approximately Rs 41.68 crore and Rs 31.26 crore, respectively.
Other additions include Akums Drugs & Pharma (Rs 268 crore), Entero Healthcare Solutions (Rs 47.35 crore), Sanstar (Rs 44 crore), R Systems International (Rs23.28 crore), Navkar Corp (Rs12 crore), Zuari Industries (Rs 6.23 crore), Forbes Precision Tools (Rs 3.77 crore), Ambika Cotton Mills (Rs 2.13 crore), and Sree Jayalakshmi Auto (Rs 0.06 crore).
Top July Exits by MFs
Mutual funds completely exited positions in Vascon Engineering (Rs 6 crore), Borosil Scientific (Rs 2.56 crore), Siyaram Silk Mills (Rs 2.40 crore), and Shilchar Technologies (Rs 0.80 crore).
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