Zomato QIP, Swiggy IPO to Reliance Industries: Where did mutual funds invest most in November? | Stock Market News

New-age stocks caught the attention of mutual fund (MF) investors in November, with food delivery giants Zomato and Swiggy receiving the largest share of investor money.

According to a recent report by Nuvama Institutional Equities, mutual funds invested ₹26,400 crore in stocks last month, with ₹5,600 crore allocated to Zomato’s Qualified Institutional Placement (QIP) and ₹5,300 crore invested in its biggest competitor, Swiggy’s Initial Public Offering (IPO). NTPC Green Energy was another significant addition, with mutual funds investing ₹4,000 crore in its public offer.

Zomato raised ₹8,500 crore via QIP last month, allocating 33.64 crore shares at ₹252.62 each. The food delivery and quick commerce giant was among the top additions for HDFC Mutual Fund, Aditya Birla Mutual Fund, and Axis Mutual Fund, with these fund houses investing ₹811 crore, ₹388 crore, and ₹470 crore, respectively.

In addition, Axis and Aditya Birla Mutual Funds made significant investments in Swiggy, a peer of Zomato. Axis MF invested ₹214 crore, while Aditya Birla MF allocated ₹266 crore to the newly listed stock. Similarly, Kotak MF and SBI MF also made substantial investments, deploying ₹1,455 crore and ₹857 crore, respectively.

Swiggy raised around ₹5,085 crore from investors in its anchor round, while the IPO size was ₹11,327 crore.

RIL and Private Banks Among Top MF Buys

Blue-chip stocks and investor favourites like Reliance Industries, ICICI Bank, and Axis Bank were also among the top mutual fund buys in November, signalling a preference for large-cap stocks. Other notable large-cap additions included Trent, State Bank of India, and Varun Beverages.

Mid-Cap and Small-Cap Picks

In the mid-cap segment, mutual funds favoured stocks like KEI Industries, NMDC, Bharti Hexacom, Ashok Leyland, and Suzlon Energy.

In the small-cap space, Wockhardt, Medplus Health, Welspun Corporation, PNB Housing, and MCX caught the attention of mutual funds.

Top Sells by Mutual Funds

On the flip side, mutual funds utilised the MSCI-driven liquidity at the end of November to partially exit inclusion names such as HDFC Bank, selling stocks worth ₹11,000 crore. Other notable sells included Voltas (Rs1,400 crore), Oberoi Realty ( ₹1,100 crore), and Alkem Labs ( ₹800 crore).

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