Mutual fund participation in October’s IPO market stayed buoyant, with investments crossing Rs 13,500 crore across ten offerings. The ten IPOs collectively raised over Rs 45,000 crore during the month.
Canara HSBC Life Insurance drew the highest institutional interest, as mutual funds subscribed to nearly 71 percent of its Rs 2,518 crore issue, investing about Rs 1,808 crore.
Midwest and Canara Robeco Asset Management also attracted strong demand, with mutual funds taking up close to 55 percent of each issue. Rubicon Research saw nearly 50 percent subscription, with Rs 676 crore invested against its Rs 1,378 crore issue size.
LG Electronics India and WeWork India Management each drew around 45 percent subscription from mutual funds, with investments of Rs 5,237 crore and Rs 1,414 crore respectively, compared with their issue sizes of Rs 11,600 crore and Rs 3,000 crore.
In contrast, Tata Capital’s Rs 15,511 crore IPO saw comparatively modest mutual fund participation, with about 13 percent or Rs 2,008 crore subscribed.
Lenskart Solutions followed with 15 percent subscription, as mutual funds invested Rs 1,130 crore against the Rs 7,278 crore issue. Rubicon Research recorded total mutual fund inflows of Rs 675 crore, while Midwest drew Rs 250 crore against its Rs 451 crore offering.
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