Mutual Fund Schemes That Gained The Most During Ola Share Price Run-up

Ola Electric Mobility Ltd. had raised over Rs 6,140 crore through an initial public offer. The company was listed on the stock exchanges on Aug. 9.

Since listing, the company saw its price double before correcting on Tuesday.

Mutual funds were one of the biggest investors in the Ola IPO. Various mutual fund schemes had major holdings of the shares, which also had significant margins of gain due to the soaring price of the shares.

As many as 10 mutual funds participated in the anchor book of the EV maker, with SBI Mutual Fund being one of the largest investors.

SBI MF, Nippon India MF, HDFC MF and Sundaram MF are some of the fund houses that gained the most from their holdings of Ola Electric shares. There has been a 93.4% increase in the value of holdings in all the schemes.

Here are the schemes that gained the most from their Ola shareholding:

Ten mutual funds invested via 31 schemes held shares in various proportions, with the largest holding being in SBI Mutual Fund schemes.

SBI Contra Fund, holding 165 crore shares, has had a Rs 155 crore increase in value since Aug. 8.

The Nippon India Multicap Fund closely follows, with share holdings of 115 crore, according to the anchor book. The increase in value of the holding was Rs 108 crore, according to the closing price as of Aug. 19.

HDFC Hybrid Equity Fund and HDFC Multi-Cap Fund both have 99 crore shares and have seen an increase of Rs 93 crore since Aug. 8.

The Nippon India Focused Fund holds 72 crore shares and the increase in value was nearly 67 crore in the scheme.

Other schemes that hold OLA shares in their portfolio include the Sundaram Mid-Cap Fund, the Franklin India Equity Advantage Fund, the SBI Flexi Cap Fund, and the SBI Automotive Opportunities Fund.

As per the NSE disclosure, SBI MF schemes have transferred all their holdings to the SBI Magnum Midcap Fund. The scheme holds 1.79% of the EV maker. As per the disclosure, the SBI Magnum Mid-Cap Fund held 7.8 crore equity shares on the listing day. This holding is valued at 1,159 crore, according to the closing price of the share on Monday. SBI MF declined to comment on this holding.

The share price had risen by 6% today, hitting a fresh record high of Rs 157.4 before falling to Rs 137.4 at market close on Aug. 20. The average price of the share has been Rs 151 per share since the listing.