In June, MFs (mutual funds) made bold moves in the IPO space. They invested a total of Rs 2,688 crore across five new IPOs. But they also skipped three offers completely, sending a clear message—quality over quantity.
Five Picks That Won Big
Out of eight IPOs launched in June, five companies got the nod from MFs. These were:
- HDB Financial Services
- Oswal Pumps
- Kalpataru Projects
- Ellenbarrie Industrial Gases
- Sambhav Steel Tubes
These five IPOs got heavy mutual fund interest through anchor investments.
HDB Financial Services was the biggest draw. It raised Rs 1,400 crore from 21 mutual funds.
- ICICI Prudential MF invested over Rs 200 crore
- SBI MF added over Rs 173 crore
- Kotak Mahindra MF contributed Rs 150 crore
- Other big names like DSP, Axis, and Aditya Birla also pitched in close to Rs 100 crore each.
That shows the confidence big fund houses have in HDB.
Kalpataru and Ellenbarrie: Smart Picks
Kalpataru Projects received Rs 377 crore in its Rs 1,590 crore IPO.
- SBI Mutual Fund alone invested nearly Rs 295 crore.
- Tarus and ICICI Prudential followed with Rs 71 crore and Rs 11 crore, respectively.
Ellenbarrie Industrial Gases got Rs 428 crore from MFs.
- Motilal Oswal Securities led with Rs 273 crore
- Axis, HDFC, and Tata MF added Rs 40 crore and Rs 28 crore each
These numbers show how MFs are betting big on industrial and infrastructure plays.
Oswal Pumps and Sambhav Steel: Niche but Noticed
Oswal Pumps, with a Rs 1,388 crore IPO, attracted Rs 432 crore from mutual funds.
- Quant MF topped with Rs 134 crore
- Mahindra Manulife MF added Rs 111 crore
- Kotak, Aditya Birla, and ICICI chipped in over Rs 32 crore each
Sambhav Steel Tubes saw Rs 55 crore investment from MFs in its Rs 540 crore issue.
- Motilal Oswal MF gave Rs 29.8 crore
- Whiteoak Capital MF added Rs 25 crore
Even the smaller IPOs found meaningful support when the story felt right.
Three IPOs MFs Refused to Touch
Mutual funds completely stayed away from these three IPOs:
- Globe Civil Projects
- Arisinfra Solutions
- Indogulf Cropsciences
They didn’t invest as anchors. They didn’t even apply in the main subscription. That’s rare and says a lot about what didn’t impress them.
June proved that MFs are being picky—and proud of it. They are not blindly throwing money at every IPO. Instead, they are focusing on companies that show value, growth, and long-term potential.
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