Mutual funds added eleven new stocks to their portfolios in September, with the shares of Bajaj Housing Finance Ltd taking the lead. Funds acquired 11.29 crore shares of Bajaj Housing Finance, amounting to an investment of Rs 1,740 crore. Following this were PN Gadgil Jewellers and SpiceJet Ltd, with investments of Rs 483 crore and Rs 305 crore, respectively.
Other notable additions in IPOs included Kross Ltd (Rs 110 crore), Western Carriers India Ltd (Rs 68.94 crore), Northern ARC Capital (Rs 37 crore), KRN Heat Exchanger & Refrigeration Ltd (Rs 20 crore), and Diffusion Engineers Ltd (Rs 18.15 crore), indicating strong buying interest from mutual funds.
The substantial investment in Bajaj Housing Finance and PN Gadgil was supported by robust anchor book buying ahead of their IPOs. Bajaj Housing Finance, which debuted on September 9, surged nearly 135 percent from its issue price of Rs 70 per share. Similarly, PN Gadgil Jewellers, listed on September 17, experienced a 65 percent jump on its first trading day.
A total of 21 mutual funds were invested in Bajaj Housing Finance, while 10 funds took positions in PN Gadgil. Additionally, 9 funds bought shares of Kross Ltd, 4 each in Western Carriers India Ltd and Northern ARC Capital, 2 in KRN Heat Exchanger & Refrigeration Ltd, and 1 in Diffusion Engineers Ltd.
Edelweiss Mutual Fund emerged as the largest investor in Bajaj Housing Finance with a stake worth Rs 314 crore, followed by HDFC Mutual Fund and SBI Mutual Fund, with investments of Rs 248 crore and Rs 206 crore, respectively. Other major buyers included ICICI Prudential, Kotak Mahindra, Aditya Birla Sun Life, Axis, and Nippon India Mutual Funds.
SpiceJet, which raised around Rs 3,000 crore through a QIP in September, attracted significant interest from both foreign funds and domestic mutual funds. Tata, Bandhan, Union, ITI, and Groww MFs participated in this QIP.
Additional stocks that saw mutual fund interest include GMR Power & Urban Infra (Rs 36 crore), Chemtech Industrial Valves (Rs 2.8 crore), and Imagicaaworld Entertainment Ltd (Rs 2.5 crore).
On the other hand, mutual funds fully exited their positions in ten stocks, with the largest exit being TCNS Clothing (Rs 512 crore), followed by Jash Engineering (Rs 72 crore) and Pix Transmissions (Rs 62 crore). Other exits included JSW Holdings, Uflex Ltd, Dalmia Bharat Sugar & Industries, Mukund, HMA Agro Industries, Panacea Biotec, and Medicamen Biotech.
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