The $1.2 billion Franklin India Smaller Companies Fund is up 34% this year, beating 98% of its peers. The funds IPO picks — Concord Biotech Ltd., TVS Supply Chain Solutions Ltd. and SBFC Finance Ltd. — have rallied between 15% to 50% since their trading debuts in August, data compiled by Bloomberg show.
“A few IPOs in the small-cap space that have come in last 6-9 months have quality businesses,” Janakiraman Rengaraju, a Franklin Templeton portfolio manager, said in an interview. “We have tried building positions in some of them as a part of our portfolio redeployment.”
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