Mutual Funds Invested Over ₹2,688 Crore, in 5 IPOs in June
By Ankur Chandra | Published at: Jul 17, 2025 10:11 AM IST
Thursday, July 17: In June 2025, mutual funds invested over Rs 2,688 crore, in 5 IPOs.
Mutual Fund Participation: Strategic and Selective
Out of a total of eight IPOs launched in June, which collectively raised ₹17,688 crore, mutual fund investments were concentrated in the following five companies: HDB Financial Services, Oswal Pumps, Ellenbarrie Industrial Gases, Kalpataru Projects, and Sambhav Steel Tubes. Conversely, Globe Civil Projects, Arisinfra Solutions, and Indogulf Cropsciences did not attract any investment from mutual funds, neither as anchor investors nor through public subscriptions.
Top IPOs with Mutual Fund Investments
HDB Financial Services
- Investment by MFs: ₹1,397.82 crore
- Issue Size: ₹12,500 crore
- Participating Funds:
- ICICI Prudential MF: ₹200+ crore
- SBI MF: ₹173 crore
- Kotak Mahindra MF: ₹150 crore
- DSP, Axis, Aditya Birla MFs: Around ₹100 crore each
Oswal Pumps
- Investment by MFs: ₹431.44 crore
- Issue Size: ₹1,388 crore
- Top Investors:
- Quant MF: ₹134 crore
- Mahindra Manulife MF: ₹111 crore
- Kotak, Aditya Birla Sun Life, ICICI Prudential MFs: Over ₹32 crore each
Ellenbarrie Industrial Gases
- Investment by MFs: ₹427.88 crore
- Issue Size: ₹852.53 crore
- Leading Investors:
- Motilal Oswal Securities: ₹273 crore
- Axis MF: ₹40 crore
- HDFC and Tata MFs: ₹28 crore each
Kalpataru Projects
- Investment by MFs: ₹377 crore
- Issue Size: ₹1,590 crore
- Major Investors:
- SBI MF: ₹295 crore
- Tarus MF: ₹71 crore
- ICICI Prudential MF: ₹11 crore
Sambhav Steel Tubes
- Investment by MFs: ₹54.70 crore
- Issue Size: ₹540.13 crore
- Key Contributors:
- Motilal Oswal MF: ₹29.8 crore
- Whiteoak Capital MF: ₹25 crore
Mutual Fund Investment Snapshot
| IPO | MF Investment (₹ crore) | Issue Size (₹ crore) |
|---|---|---|
| HDB Financial Services | 1397.82 | 12500.00 |
| Oswal Pumps | 431.44 | 1388.00 |
| Ellenbarrie Industrial Gases | 427.88 | 852.53 |
| Kalpataru Projects | 377.00 | 1590.00 |
| Sambhav Steel Tubes | 54.70 | 540.13 |
What’s Ahead?
Mutual funds’ selective investment of over Rs. 2,688 crore in June’s IPOs shows a clear preference for quality over quantity. Their focus on strong players like HDB Financial and Oswal Pumps signals investor confidence in proven business models. This trend may continue, with funds likely favouring companies with robust fundamentals, governance, and sectoral growth. Retail investors should watch mutual fund behaviour as a guidepost while still doing their own due diligence. As IPO activity remains strong, competition for high-quality listings is expected to rise in the coming months.
What Does It Mean For The Investors?
For retail investors, mutual fund participation in IPOs signals institutional confidence, helping identify quality offerings. Their selective investment in just five out of eight IPOs in June shows a preference for strong fundamentals and growth prospects. This trend suggests that investors should closely evaluate company valuations and business strength before investing. IPOs backed by mutual funds may offer more stability and better long-term potential. However, due diligence remains crucial, as not all popular listings guarantee returns.
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