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Funds anchor IPOs, then sail off after debuts

Anchor investors cannot sell their shares for 30 days from the date of allotment, while IPO investors can sell them on listing day

Ashley Coutinho  |  Mumbai 

In an attempt to cash in on the steep rise in share prices of some recent debutants, mutual funds (MFs) have sold shares in these. MFs sold 4.3 million shares in small finance bank licensee Ujjivan Financial Services in June, bringing their total holding to 9.6 million shares, data from Value Research show.

In Manpasand Beverages and InterGlobe Aviation, MFs offloaded around 742,000 and 310,000 shares, respectively, in June. The reduction in holding was more gradual in others. In Prabhat Dairy, for instance, MFs owned 3.4 million shares in June, nearly half the six million shares held in ...

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First Published: Tue, July 19 2016. 22:50 IST
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