In August, mutual funds invested over Rs 6,900 crore in eight IPOs amid record SIP inflows, marking the largest primary market fundraising since May 2022. Ten companies raised a total of Rs 17,000 crore, with mutual funds primarily making anchor investments in these public issues.
Brainbees Solutions attracted the most mutual fund investment with 4.21 crore shares worth Rs 2,810 crore. Following closely were Ola Electric Mobility and Premier Energies, garnering investments of Rs 2,703 crore and Rs 622 crore, respectively. Other significant investments included Premier Energies Ltd, Unicommerce eSolutions, and more.
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SBI Mutual Fund led the investment in Brainbees Solutions, committing Rs 1,880 crore. Other notable contributors included Kotak Mahindra and ICICI Prudential Mutual Funds with investments of Rs 299 crore and Rs 232 crore, respectively. Mirae Asset Management was the largest investor in Ola Electric’s IPO.
The IPOs proved lucrative with Ola Electric initially surging 20 percent on its debut and currently trading 45 percent above its issue price. Brainbees Solutions saw a 46 percent increase on its first day, reflecting strong market reception.
Other impressive IPO performances included Unicommerce eSolutions and Premier Energies, which soared 95 percent and 98 percent, respectively, on their debut. Interarch Building Products and ECOS India Mobility also saw substantial gains of 33 percent each, demonstrating robust investor interest.
