Domestic mutual funds (MFs) have taken lead over other institutional investors when it comes to participation in Initial Public Offerings (IPOs) of shares. Fund managers have subscribed to shares in anchor book in almost all of the recent IPOs, data show.
(Anchor investors are institutional (big-money) investors that are invited to buy shares ahead of the IPO to provide confidence to potential IPO investors. There is a reserved quota for anchor investor buying. Anchor investors cannot sell their shares for 30 days from the date of allotment; other IPO investors are allowed to sell on the listing day.)
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