September saw eleven new equities added to mutual funds portfolios, with shares of Bajaj Housing Finance Ltd. leading the way. A total of Rs 1,740 crore was invested in 11.29 crore shares of Bajaj Housing Finance by funds. After it came SpiceJet Ltd. and PN Gadgil Jewellers, with investments of Rs 305 crore and Rs 483 crore, respectively. Strong mutual fund buying activity was evident in the other noteworthy IPO additions, which 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). Strong anchor book buying before to PN Gadgil and Bajaj Housing Finance's IPOs helped to underpin the sizeable investments in both companies. After launching on September 9, Bajaj Housing Finance saw an almost 135 percent increase in value from its initial offering price of Rs 70 per share. Similarly, on its first trading day after listing on September 17, PN Gadgil Jewellers had a 65 percent increase. Ten mutual funds acquired stakes in PN Gadgil, while a total of twenty-one funds invested in Bajaj Housing Finance. Furthermore, shares in Kross Ltd., Northern ARC Capital, Western Carriers India Ltd., KRN Heat Exchanger & Refrigeration Ltd., and Diffusion Engineers Ltd. were purchased by nine funds, four of which each. With a stake of Rs 314 crore in Bajaj Housing Finance, Edelweiss Mutual Fund emerged as the biggest investor. It was followed by SBI Mutual Fund and HDFC Mutual Fund, with investments of Rs 206 crore and Rs 248 crore, respectively. Other significant purchasers were Aditya Birla, Kotak Mahindra, and ICICI Prudential. Mutual Funds: Sun Life, Axis, and Nippon India.
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