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.