Mutual funds invested a total of Rs. 13.909 crore across nine IPOs during October, signalling strong institutional participation in newly listed companies across diverse sectors including electronics, finance, insurance, workspace solutions, research and consumer retail.
LG Electronics India (consumer electronics and appliances manufacturer) attracted the highest fund allocation, with mutual funds investing Rs. 5,237 crore and holding 3.14 crore shares. The IPO was priced at Rs. 1,140 and listed at Rs. 1,710.10, reflecting a 50.01 percent gain over the issue price. The stock currently trades at Rs. 1,628 and commands a market capitalization of Rs. 1,10,497 crore.
Tata Capital (diversified financial services provider) witnessed Rs. 2,008 crore mutual fund investment and a portfolio holding of 6.13 crore shares. The IPO was priced at Rs. 326 and listed at Rs. 330, translating into a 1.23 percent premium. The stock currently trades at Rs. 322 and commands a market capitalization of Rs. 1,36,748 crore.
Canara HSBC Life Insurance Company (life insurance and protection solutions provider) received Rs. 1,807 crore from mutual funds with a total holding of 15.53 crore shares. The IPO issue and listing price were identical at Rs. 106, indicating no premium or discount. The stock currently trades at Rs. 119 and commands a market capitalization of Rs. 11,296 crore.
WeWork India Management (flexible workspace and coworking solutions operator) saw mutual fund participation of Rs. 1,413 crore along with 2.18 crore shares held. The IPO was priced at Rs. 648 and listed marginally higher at Rs. 650, marking a 0.31 percent gain. The stock currently trades at Rs. 640 and commands a market capitalization of Rs. 8,571 crore.
Lenskart Solutions (omnichannel eyewear retail and tech-enabled optical services platform) attracted Rs. 1,130 crore investment from mutual funds with 2.81 crore shares in their holdings. The IPO issue price was Rs. 402, whereas the listing price stood lower at Rs. 395, marking a 1.74 percent decline. The stock currently trades at Rs. 426 and commands a market capitalization of Rs. 73,836 crore.
Canara Robeco Asset Management Company (asset and portfolio management services provider) received Rs. 714 crore in mutual fund investment with 2.25 crore shares held. The IPO was priced at Rs. 266 and listed at Rs. 280.25, reflecting a 5.36 percent upside. The stock currently trades at Rs. 296 and commands a market capitalization of Rs. 5,901 crore.
Rubicon Research (pharmaceutical formulation and research-driven development services firm) saw mutual fund investment worth Rs. 675 crore and 1.10 crore shares held. The IPO was priced at Rs. 485 and listed at Rs. 620, delivering a 27.84 percent gain. The stock currently trades at Rs. 725 and commands a market capitalization of Rs. 11,948 crore.
Midwest (engineering and industrial manufacturing solutions company) received Rs. 675 crore mutual fund allocation with 22.34 lakh shares in portfolios. The issue price was Rs. 1,065 and it listed at Rs. 1,165, registering a 9.39 percent gain. The stock currently trades at Rs. 1,270 and commands a market capitalization of Rs. 4,591 crore.
Orkla India (packaged foods and FMCG manufacturing company) garnered Rs. 250 crore mutual fund investment with 26.29 lakh shares held. The IPO was priced at Rs. 730 and listed at Rs. 750.10, giving a 2.75 percent premium. The stock currently trades at Rs. 673 and commands a market capitalization of Rs. 9,219 crore.
Written by Manan Gangwar
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