Fund managers invested in 14 out of the 19 initial public offers, IPOs that listed in the month of April and May.

Sun TV [Get Quote], Adhunik Metaliks [Get Quote], Kewal Kiran Clothing [Get Quote], Reliance Petroleum [Get Quote], and Plethico Pharmaceuticals [Get Quote] received overwhelming response across funds. However, they stayed away from Rohit Ferro Tech, R Systems International [Get Quote], Powersoft Global Solutions [Get Quote], and JRG Securities [Get Quote].

Lokesh Machines [Get Quote], Shivalik Global [Get Quote], Emkay Shares & Stock, and Gallantt Metal [Get Quote] were the lesser popular IPOs with fund managers.

Shares held by Mutual Funds
IPO	April	May
Sun TV	1,039,071	1,172,009
Adhunik Metaliks	10,542,347	10,384,843
Kewal Kiran Clothing	360,892	1,672,299
Reliance Petroleum	N.A.	4,478,811
Plethico Pharmaceuticals	N.A.	1,062,791
Uttam Sugar Mills [Get Quote]	1,143,780	1,497,016
Godawari Power & Ispat	2,544,000	2,000,000
Solar Explosives [Get Quote]	839,212	876,060
Kamdhenu Ispat [Get Quote]	N.A.	2,201,845
Tantia Constructions [Get Quote]	548,337	344,264
Gallantt Metal	3,392,151	3,515,039
Emkay Shares & Stock	466,234	386,399
Shivalik Global	304,582	400,337
Lokesh Machines	67,381	50,003

SUN TV: 21 schemes across 7 funds invested in April. But these numbers dropped to 12 schemes across 6 funds by May end. JM MF exited it, while PRINCIPAL MF sold the stock extensively. However, HDFC [Get Quote], Tata, and SBI [Get Quote] MF added to their investments in the stock.

HDFC Equity Fund was the top investor in the stock with over 8.4 lakh shares as on May 31, 2006. Among fund houses, HDFC MF with over 8.7 lakh shares was the top investor in the stock.

As on today, funds hold over 11.7 lakh shares of SUN TV worth Rs 113.92 crore.

Adhunik Metaliks: 4 schemes across 3 fund houses invested in April. Templeton and Kotak MF maintained their position in May too. However, Pru ICICI [Get Quote] off-loaded few shares of the stock.

Franklin India Smaller Companies Fund was the top investor in Adhunik Metaliks with over 45 lakh shares as on May 31, 2006. Among fund houses, Pru ICICI MF with over 54.8 lakh shares was the top investor in the stock.

As on today, funds hold over 103.8 lakh shares of Adhunik Metaliks worth Rs 32.45 crore.

IPO	Issue Price	Current Price	% Change
Sun TV	875	968	10.6%
Adhunik Metaliks	37	31	-15.7%
Kewal Kiran Clothing	260	185	-29.0%
Reliance Petroleum.	60	63	5.6%
Plethico Pharma	300	270	-10.0%
Uttam Sugar Mills	340	176	-48.4%
Godawari Power	81	71	-12.6%
Solar Explosives	190	155	-18.6%
Kamdhenu Ispat	25	31	22.2%
Tantia Constructions	50	126	152.7%
Gallantt Metal	10	11	12.2%
Emkay Shares	120	63	-47.7%
Shivalik Global	60	26	-56.9%
Lokesh Machines	140	131	-6.1%

Kewal Kiran Clothing: 6 schemes across 2 funds invested in April. By May-end, 9 schemes across 3 funds held it. Pru ICICI MF introduced the stock into its portfolio in May.

Pru ICICI Fusion Fund was the top investor with over 6.4 lakh shares. Among fund houses, Pru ICICI MF with over 10.8 lakh shares was the top investor in the stock.

As on today, funds hold over 16.7 lakh shares of Kewal Kiran Clothing worth Rs 31.07 crore.

Reliance Petroleum: 24 schemes across 11 fund houses bought over 44.7 lakh shares in May. SBI's Magnum Contra Fund was the top investor in the stock with over 19 lakh shares. Among fund houses, SBI MF with over 31.6 lakh shares is the top investor in the stock followed by HDFC MF with over 7.3 lakh shares.

As on today, funds hold over 44.7 lakh shares of Reliance Petroleum worth Rs 28.37 crore.

Plethico Pharmaceuticals: 15 schemes across 4 fund houses bought over 10.6 lakh shares in May. Pru ICICI Power was the top investor in the stock with over 4.6 lakh shares. Among fund houses, Pru ICICI MF with over 8.4 lakh shares is the top investor in the stock.

As on today, funds hold over 10.6 lakh shares of Plethico Pharmaceuticals worth Rs 28.28 crore.

For more mutual fund action in the market, click here.