Zomato becomes a top pick for large mutual fund houses in July
- India’s biggest mutual fund houses added one common stock to their equity portfolio in July — Zomato.
- Shares of Zomato were listed on July 27 on BSE and NSE.
- Top five mutual fund houses added 1-4 crore of Zomato stocks in July 2021.
These five mutual fund houses comprise more than 55% of the industry’s total assets under management (AUM) of ₹35.31 lakh crore.
Zomato was listed on exchanges on July 27 with a 51% premium. While some analysts believe that the valuation is too expensive for a loss making company, some feel it is a futuristic company and bound to grow.
AdvertisementThese large fund houses have bought more than a crore shares of the food delivery company in July. SBI Mutual Fund (MF) bought the highest at 4.24 crore shares followed by Axis Mutual Fund with 3.51 crore of Zomato stock.
|Top 5 fund houses||Zomato shareholding (in crore)|
|ICICI Prudential MF||1.38|
|Aditya Birla Sun Life MF||1.7|
Meanwhile, there were three other initial public offerings (IPOs) as well, which debuted in July and opened with more than 90% premium on exchanges — Clean Science and Technology, GR Infraprojects and Tatva Chintan Pharma Chem.
Shares of Clean Science and Technology were bought by HDFC MF, Axis MF and SBI MF. GR Infraprojects was picked by SBI MF, ICICI Prudential and HDFC MF and Tatva Chintan Pharma Chem was bought by Axis MF in July.
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