Mutual funds bet big on primary offers
14 Aug 2021
Fund managers of leading mutual funds focused largely on initial public offerings (IPOs) in July. This is clearly reflected in the rising investments of the mutual funds industry in recently-listed IPOs.
High valuation of several large and mid-sized companies and rangebound movement in the market during the month could have been a few key reasons why fund managers focused more on IPOs.
Money managers also took concentrated bets on companies which either demonstrated cost efficiency or benefit from improving demand.
, , and were among the top buys of these fund managers. Among IPOs, , GR Infraprojects and Clean Science And Technology were their top picks.