New Delhi, Aug 5
India's mutual fund industry has shown robust participation in newly listed companies, with total investments amounting to over Rs 5,294 crore across recent initial public offerings (IPOs) in the April-June quarter, a report said on Tuesday.
A majority of these new entrants fall under the small-cap category, with only one categorised as a midcap, stock broking platform Ventura said in its report.
According to the report, in small-cap IPOs, mutual fund houses have invested Rs 1,351 crore in Ather Energy, Rs 679 crore in Schloss Bangalore, Rs 495 crore in Aegis Vopak Terminals, Rs 398 crore in Belris Industries, Rs 387 crore in Oswal Pumps, Rs 357 crore in Ellenbarrie Industrial Gases, Rs 241 crore in Kalpatru, and Rs 55 crore in Sambhv Steel Tubes during the quarter.
The fund houses allocated Rs 1,331 crore for HDB Financial Services' IPO, which was a midcap company.
Meanwhile, among the top 335 equity schemes across the top 20 Asset Management Companies (AMCs) (by Asset under management) for the January–March quarter, 90 per cent of schemes outperformed the Nifty 50 TRI, highlighting the index's relative underperformance during the period.