Reliance Equity Opportunities Fund has mopped up Rs 1773.50 crore during its IPO. The fund received over 2.2 lakh applications from over 130 centres. This makes it the highest ever IPO collection by any Reliance Mutual Fund's scheme.
The initial offer of Reliance Equity Opportunities Fund opened on February 14, 2005 and closed on March 7, 2005. The minimum investment amount was Rs 5,000.
There has been a considerable increase in the interest in mutual fund IPOs that have concluded in the recent past. Since the beginning of 2005, nearly 11 equity mutual fund schemes have concluded their IPOs. Together they have collected over Rs 5,789 crore.
Among the new funds, Franklin India Flexicap reported the highest collection of over Rs 1,950 crore. With an asset of Rs 1773.50 crore, Reliance Equity Opportunities fund becomes the second largest diversified equity fund followed by Franklin India Bluechip (Rs 1,766.53 crore as on February 28, 2005) and HSBC Equity (Rs 1622.67 crore as on February 28, 2005).
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