ABSL MF Launches New Funds, Dhoot Transmission IPO Subscribed 63%

Aditya Birla Sun Life AMC has launched two new Specialized Investment Funds (SIFs), expanding its offerings with the Apex Equity Long Short Fund and the Apex Equity Ex-Top 100 Long Short Fund.

These new funds are designed to cater to distinct investment strategies, aiming for capital appreciation across varying market cycles.

New Fund Offerings

• The Apex Equity Long Short Fund provides broad equity market exposure, with its net equity position dynamically adjustable based on current market conditions.
• The Apex Equity Ex-Top 100 Long Short Fund specifically targets emerging market leaders, focusing on companies beyond India’s top 100 by market capitalization.

Harish Krishnan, CIO-Equity at Aditya Birla Sun Life AMC, stated that these funds offer unique portfolio construction strategies for adapting to diverse market cycles.

IPO Subscription Updates

In other market developments, the initial public offering (IPO) of Dhoot Transmission, an auto components manufacturer, achieved a 63% subscription rate on its first day of bidding.

• The IPO received bids for 1,56,51,645 shares against an offer of 2,49,56,363 shares.
• Non-institutional investors subscribed 1.09 times their allotted quota.
• The retail quota was booked 74%.
• Qualified institutional buyers saw a 6% subscription.

Separately, supply chain asset pooling firm LEAP India’s public offer recorded a 49% subscription on its second day.

This offer attracted bids for 5,62,11,154 shares against the total 11,49,91,735 shares available.