November Sees ₹43,400 Crore Equity Buys by Mutual Funds Amid FII Sell-Off

According to the latest data from AMFI, equity mutual funds witnessed a substantial inflow of ₹29,900 crore during November, supported by strong systematic investment plan (SIP) contributions. Mutual funds were net buyers of equities worth ₹43,400 crore in the month, while foreign institutional investors (FIIs) were net sellers to the tune of ₹11,600 crore. Here’s a detailed breakdown of key buying and selling activity by India’s leading mutual fund houses:

SBI Mutual Fund

India’s largest fund house by assets under management (AUM) made significant investments in IPOs, including ₹1,239 crore in Lenskart Solutions and ₹1,197 crore in Pine Labs. It also boosted its stake in Eternal by ₹537 crore. However, SBI MF trimmed holdings in Kotak Mahindra Bank (₹847 crore), Eicher Motors (₹535 crore), and Asian Paints (₹337 crore). The fund additionally took a fresh position in ASK Automotive while completely exiting NSDL.

ICICI Prudential Mutual Fund

The IPO-focused fund house increased its holdings in ITC (₹2,320 crore), ICICI Bank (₹2,015 crore), and Trent (₹1,619 crore). It trimmed stakes in Reliance Industries (₹1,744 crore), Bharti Airtel (₹1,703 crore), and State Bank of India (₹766 crore). The fund also made new purchases in CG Power, General Insurance Corporation, ZF Commercial, Prudent Corp, CARE Ratings, and MM Forgings, alongside a full exit from NSDL.

HDFC Mutual Fund

HDFC MF added ₹1,084 crore to its ICICI Bank stake and ₹639 crore to HDFC Bank, while investing ₹590 crore in the Groww IPO. It reduced its exposure in Tata Motors Commercial Vehicles (₹289 crore), Bharti Airtel (₹232 crore), and Tata Motors Passenger Vehicle (₹183 crore). Fresh acquisitions were made in Praj Industries, Tega Industries, and DOMS Industries, while the fund fully exited Muthoot Finance, Techno Electric Engineering, Leela Palace Hotels, and NSDL.

Axis Mutual Fund

Notable buys by Axis MF included Shriram Finance (₹611 crore), BHEL (₹309 crore), and Ashok Leyland (₹293 crore). The fund trimmed positions in GE Vernova (₹363 crore), TVS Motor (₹308 crore), and Bajaj Auto (₹306 crore). It also entered new stakes in Ashok Leyland, Indus Towers, M&M Financial, and Equitas Small Finance Bank. Additionally, Axis MF completely exited Cipla, EPL, Bajaj Auto, EPL Ltd., and VST Industries, while participating in the IPO of Tenneco Clean Air.

Aditya Birla Sun Life Mutual Fund

The fund participated actively in IPOs, investing ₹402 crore in Lenskart Solutions, ₹334 crore in Groww, and ₹203 crore in Pine Labs. It pared down stakes in Bharti Airtel (₹237 crore), Interglobe Aviation (₹232 crore), and Adani Enterprises (₹184 crore), while completely exiting Groww.

Kotak Mutual Fund

Kotak MF increased holdings in Bajaj Finance (₹1,220 crore), Mphasis (₹717 crore), and Kotak Mahindra Bank (₹599 crore). It reduced stakes in Power Grid (₹595 crore), Titan (₹551 crore), and Sun Pharma (₹504 crore). The fund also invested in IPOs of Groww and PhysicsWallah, acquired new stakes in Whirlpool, and exited Exide, CAMS, and Bayer Crop.

Also Read: What Are the Factors Driving Equity Mutual Funds Inflows in November 2025

Conclusion

November saw aggressive buying from mutual funds despite foreign investors pulling out, underscoring strong domestic confidence in equities. The focus on IPOs across multiple fund houses signals growing investor appetite for new-age businesses, while strategic portfolio rebalancing reflects ongoing sectoral shifts.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.