These mutual funds didn’t participate in LIC anchor book

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There were as many as 28 mutual fund houses that were not part of the anchor book

The Rs 5,630-crore anchor book of Life Insurance Corporation of India (LIC) was fully subscribed On May 2. Not all mutual fund houses got the allotment despite the overwhelming interest, while some fund houses might have decided to skip the initial public offering (IPO) altogether.

Overall, there were 59.2 million shares offered in the anchor book, of which 42.1 million shares were bought by mutual funds.

However, these are the mutual funds that didn’t feature in the anchor book.

There were 28 domestic mutual funds that were not part of the anchor book. Some of the major names that were absent included DSP Mutual Fund, Mirae Asset Management, Edelweiss Mutual Fund, Canara Robeco Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund and LIC Mutual Fund.

Also Read: Large-cap, mid-cap, thematic MFs invest in LIC anchor book

As many as 15 domestic mutual funds participated through 99 schemes. The Rs 21,000-crore issue has mobilised Rs 5,627 crore from anchor investors. Of these, mutual funds have contributed Rs 4,002 crore, buying the shares at Rs 949 each, at the upper end of the IPO price band of Rs 901-Rs 949.

Also Read: LIC IPO opens tomorrow: Should you subscribe to the issue?

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Dhuraivel Gunasekaran

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