From the link shared by you:
This is a fund that invests mainly in companies that adhere to the narrow investment mandate mentioned in its investment objective.
We believe that investors should avoid funds that have a narrowly defined investment focus such as this one. Instead, they should invest in flexi-cap funds which provide complete freedom to the fund management team to invest in companies from which it expects maximum gains.
Basically this fund is a desperate attempt to ride the IPO euphoria wherein the investors especially the retail without thinking twice are applying for IPO's where the companies too are making an attempt to flow with the wave.Never before i have seen retail subscriptions 200 times the proposed retail quota.But as Paytm IPO showed not every IPO will get you instant profit.