Top Mutual Funds Holding Major Stakes in IndusInd Bank

IndusInd Bank’s shares dropped by 26% on Tuesday, reaching a new 52-week low of Rs. 720.50. This sharp decline came after several brokerage firms downgraded the stock and lowered their target prices due to an accounting issue in the bank’s forex derivatives portfolio. As of February 28, 2025, mutual funds collectively owned about 20.08 crore shares of IndusInd Bank, valued at Rs. 19,884 crore.

There are approx. 35 AMCs and 360 schemes had invested in IndusInd Bank as of February 28, 2025. Five AMCs had invested more than Rs. 1,000 crore each. ICICI Prudential Mutual Fund had the largest investment, with about Rs. 3,778 crore in IndusInd Bank, holding approximately 3.81 crore shares in its portfolio.

SBI Mutual Fund, the largest fund house by assets, held shares of IndusInd Bank worth Rs. 3,047 crore, with a total of 3.07 crore shares in its portfolio. HDFC Mutual Fund and UTI Mutual Fund owned shares worth Rs. 2,773 crore and Rs. 2,447 crore, respectively. Nippon India Mutual Fund had shares worth Rs. 2,121 crore, holding 2.14 crore shares in its portfolio.

As of February 28, 2025, Kotak Mutual Fund held shares worth Rs. 522 crore in IndusInd Bank, while Tata Mutual Fund had shares valued at Rs. 517 crore. Quant Mutual Fund owned around 30.77 lakh shares, with a total worth of Rs. 304.65 crore.

Edelweiss Mutual Fund owned 24.76 lakh shares of IndusInd Bank, valued at Rs. 245 crore. DSP Mutual Fund held 16.79 lakh shares, worth Rs. 166.29 crore.

Around 19 asset management companies (AMCs) had invested less than Rs. 100 crore in IndusInd Bank. JM Mutual Fund held Rs. 86.63 crore worth of shares, while HSBC Mutual Fund had an investment of Rs. 78.44 crore. PPFAS Mutual Fund owned about 4.40 lakh shares, valued at Rs. 43.56 crore.

In February, Zerodha Mutual Fund held shares worth Rs. 2.76 crore in IndusInd Bank, while WhiteOak Capital Mutual Fund had shares worth Rs. 1.96 crore. On the other hand, 360 ONE Mutual Fund and Taurus Mutual Fund had the smallest investments, with holdings of Rs. 0.48 crore and Rs. 0.29 crore, respectively.

SBI Nifty 50 ETF had the highest investment in InduInd Bank, worth Rs. 1,165 crore. The HDFC Mid-Cap Opportunities fund followed closely with an investment of Rs. 913 crore.

HDFC Large Cap Fund had an investment of Rs. 611 crore in February and had 61.78 lakh in the portfolio. Nippon India Large Cap Fund and Nippon India ETF Nifty Bank BeES had an investments of Rs. 336 crore and Rs. 329 crore in February.

HDFC Flexi Cap Fund had approx. 25 lakh shares of IndusInd Bank, valued at around Rs. 247 crore. Bandhan Flexi Cap Fund and Bandhan Small Cap Fund also invested in the bank, with holdings worth Rs. 136 crore and Rs. 135 crore, respectively.

Quant Mid Cap Fund had 9.50 lakh shares of IndusInd Bank, valued at Rs. 94.06 crore. Nippon India Small Cap Fund, which is the largest small-cap fund by assets, held 3.52 lakh shares worth Rs. 34.89 crore. Parag Parikh Flexi Cap Fund, the biggest flexi-cap fund by assets, had shares worth Rs. 20 crore.

SBI Nifty Bank Index Fund has an investment of Rs. 4.65 crore in the mentioned period. Axis NIFTY 50 ETF and Tata Nifty 50 ETF had an investment of Rs. 4.22 crore and Rs. 4.17 crore, respectively.

In February, Kotak MSCI India ETF had the smallest investment in IndusInd Bank, with just Rs. 0.02 crore, while Bandhan BSE Sensex ETF had an even lower exposure of Rs. 0.01 crore.