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Mutual funds with investments in Zomato

Curious to know whether your mutual fund scheme has invested in the shares of Zomato? Here is the list of funds with investments in Zomato

Mutual funds with investments in Zomato

The Initial Public Offer (IPO) of Zomato that was open for subscription last month to raise Rs 9,375 crore received a brilliant response from investors. Retail individual investors subscribed for 96.52 crore shares as against 12.96 crore offered to them. This is 7.45 times the shares that were reserved for them. On the other hand, the shares reserved for qualified institutional buyers (QIBs) comprising foreign institutional investors (FIIs) and domestic financial institutions were oversubscribed by 51.79 times.

This food-delivery app has become a household name over the past few years. With the onset of the pandemic, more and more people now prefer getting the food delivered at their home or office in order to avoid eating out at a public place. The company's revenue has seen a big jump in the last three years. It has grown at a whopping 62.3 per cent CAGR. Zomato also claims that users who had joined its platform in 2018 have collectively increased their spending by more than 2.4 times over the past three years. This has helped the company decrease its advertising expenses as well. While these points were enough for a perfect IPO recipe, the timing of the IPO could not have been better than this, as the stock market has been on an exorbitant bull run.

But surprisingly, the IPO got a tepid response from the employees of Zomato. 65 lakh shares were reserved for Zomato's employees and out of this, only 40.5 lakh got subscribed. This is just 62 per cent. It would be interesting to know why the company insiders were less enthusiastic and the subscription was less than two-thirds of the shares offered, while the other segment of the investors oversubscribed many times. But that is a discussion for some other day. We are here to check which mutual fund schemes have been invested in the IPO.

As per the month-end portfolio disclosures, 125 mutual fund schemes across 20 Value Research fund categories had exposure in Zomato as on July 31, 2021. The 'flexi-cap' category has the maximum number of funds. Although 22 fund houses hold exposure in Zomato, the top five fund houses account for 54 per cent of the total shares worth Rs 4,512 crore held by the mutual fund industry.

Out of the 125 schemes, only five are closed-end and account for only Rs 53 crore. Although a sizeable number of open-end schemes have exposure in Zomato, only 39 of them have a portfolio allocation of more than 1 per cent, with only 12 of them crossing the mark of 2 per cent. Remember that this data is based on the month-end portfolio disclosures and would exclude any scheme or fund house that did receive an allotment of Zomato's shares but exited completely before the last day of July, probably to benefit from the listing gains. Here is the complete list of open-end mutual fund schemes having exposure of more than 1 per cent in Zomato.

Mutual funds with exposure of more than 1% in Zomato

S. NO. Fund Name Category Holding (%) Holding Value (Rs Cr)
1 Edelweiss Recently Listed IPO Fund Equity: Thematic 4.65 27.73
2 Nippon India Consumption Fund Equity: Thematic-Consumption 4.35 6.85
3 IIFL Focused Equity Fund Equity: Flexi Cap 3.95 84.45
4 Motilal Oswal Large and Midcap Fund Equity: Large & MidCap 3.87 29.44
5 Franklin India Opportunities Fund Equity: Thematic 3.32 22.06
6 SBI Technology Opportunities Fund Equity: Sectoral-Technology 3.04 34.98
7 Motilal Oswal Equity Hybrid Fund Hybrid: Aggressive Hybrid 2.99 12.79
8 Nippon India Focused Equity Fund Equity: Flexi Cap 2.99 162.33
9 Motilal Oswal Focused 25 Fund Equity: Large Cap 2.97 51.77
10 Motilal Oswal Flexi Cap Fund Equity: Flexi Cap 2.87 343.39
11 Franklin India Technology Fund Equity: Sectoral-Technology 2.77 17.66
12 IDFC Large Cap Fund Equity: Large Cap 2.56 21.10
13 SBI Consumption Opportunities Fund Equity: Thematic-Consumption 1.92 14.69
14 BNP Paribas Large Cap Fund Equity: Large Cap 1.85 20.93
15 Motilal Oswal Dynamic Fund Hybrid: Dynamic Asset Allocation 1.83 22.62
16 BNP Paribas Focused 25 Equity Fund Equity: Flexi Cap 1.82 3.67
17 Tata Digital India Fund Equity: Sectoral-Technology 1.77 38.68
18 Motilal Oswal Long Term Equity Fund Equity: ELSS 1.67 37.98
19 Tata Retirement Savings Progressive Equity: Flexi Cap 1.66 18.72
20 Tata Flexi Cap Fund Equity: Flexi Cap 1.64 32.67
21 UTI India Consumer Fund Equity: Thematic-Consumption 1.62 5.34
22 Nippon India Multi Cap Fund Equity: Multi Cap 1.55 157.93
23 Principal Large Cap Fund Equity: Large Cap 1.51 7.16
24 BOI AXA Bluechip Fund Equity: Large Cap 1.5 1.31
25 Franklin India Flexi Cap Fund Equity: Flexi Cap 1.50 144.03
26 Kotak Pioneer Fund Equity: Thematic 1.45 18.54
27 Edelweiss Large Cap Fund Equity: Large Cap 1.34 3.51
28 Mirae Asset Great Consumer Fund Equity: Thematic-Consumption 1.28 17.61
29 HSBC Large and Mid Cap Equity Fund Equity: Large & MidCap 1.27 6.90
30 HSBC Flexi Cap Fund Equity: Flexi Cap 1.27 5.02
31 Axis Special Situations Fund Equity: Thematic 1.23 29.60
32 Nippon India Retirement Fund - Wealth Creation Scheme Equity: Flexi Cap 1.23 26.7
33 IDFC Balanced Advantage Fund Hybrid: Dynamic Asset Allocation 1.23 28.23
34 ICICI Prudential Technology Fund Equity: Sectoral-Technology 1.18 48.33
35 Aditya Birla Sun Life Mid Cap Fund Equity: Mid Cap 1.15 36.73
36 Sundaram Services Fund Equity: Thematic 1.12 18.33
37 BNP Paribas India Consumption Fund Equity: Thematic-Consumption 1.08 8.54
38 Canara Robeco Emerging Equities Fund Equity: Large & MidCap 1.08 110.60
39 Axis Flexi Cap Fund Equity: Flexi Cap 1.06 94.44
Data as on July 31, 2021. Closed-end funds and Navi Mutual Fund excluded.