Mukul Agarwal adds 470% multibagger to Rs 8,000 crore portfolio, trims KRN Heat exposure

Ace investor Mukul Mahavir Agarwal has added a stock that has surged 470% since its March 2026 listing, with his portfolio valued at Rs 8,000 crore, according to Trendlyne, even as market volatility persists amid FII outflows, rising oil prices and bond yields.

Stock exchange data showed that Agarwal added newly listed Apsis Aerocom to his portfolio with a 1.2% stake or about 1.46 lakh shares. The precision engineering company has seen its shares soar 470% since listing, making it a standout performer in his latest portfolio moves.

Apsis Aerocom operates in the precision engineering segment, catering to the aerospace, defence and healthcare industries. The company provides end-to-end manufacturing solutions, including machining, surface finishing, assembly and quality control, from its facility in Bengaluru. Its presence in high-specification sectors such as aerospace and defence places it within themes that have attracted investor interest amid a growing focus on domestic manufacturing.


The company made its stock market debut in March at a 39% premium to its issue price, following strong demand for its initial public offering. The Rs 36 crore IPO was subscribed 129.33 times overall, with the retail segment receiving more than 100 times subscription and the non-institutional investor segment nearly 237 times. The issue was entirely a fresh offering of 0.33 crore shares, priced in a band of Rs 104-110 per share. Proceeds were earmarked primarily for capital expenditure, including machinery purchases, along with general corporate purposes.

Meanwhile, Agarwal has trimmed his exposure to KRN Heat Exchanger and Refrigeration, which manufactures custom fin-and-tube heat exchangers and thermal management components used in heating, ventilation, air conditioning and refrigeration systems. The reduction follows a sharp rally in the stock, with shares gaining around 45% in 2026 and 61% over the past year.

Agarwal's portfolio moves are closely tracked by retail and institutional investors for potential clues on stock-specific opportunities and changing investment preferences. However, the latest changes remain provisional, as Q2 shareholding disclosures are yet to be fully released and the reported portfolio positions may change as further filings become available.

Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.