LIC, NSE’s largest shareholder, emerged as the biggest anchor investor, acquiring 2.24 million shares valued at ₹400.3 crore. Societe Generale’s offshore derivative instrument desk picked up 1.77 million shares worth ₹316 crore, while Norway’s Government Pension Fund Global was allocated 1.4 million shares valued at ₹250 crore.
Mumbai:The National Stock Exchange of India, that will hit the capital markets with a $2.3 billion initial public offring (IPO) on Thursday, allocated shares worth Rs67.46 billion ($703.04 million) to anchor investors on Wednesday, including Life Insurance CorporationLIC), the sovereign wealth funds of Norway and Abu Dhabi, ahead of its initial public offering.
LIC, NSE’s largest shareholder, emerged as the biggest anchor investor, acquiring 2.24 million shares valued at ₹400.3 crore. Societe Generale’s offshore derivative instrument desk picked up 1.77 million shares worth ₹316 crore, while Norway’s Government Pension Fund Global was allocated 1.4 million shares valued at ₹250 crore.
189 marquee investors that anchored the NSE’s initial public offering.
The exchange said its board on Wednesday approved the allotment of 37,793,739 equity shares to anchor investors at ₹1,785 a share, raising a total of ₹6,746.18 crore.
The shares were allotted at Rs 1,785 each — the top end of the IPO price band — an exchange filing showed.
Insurance companies and pension funds were also prominent participants in the anchor book, with SBI Life, HDFC Life and various NPS Trust schemes collectively acquiring 60.61 lakh shares valued at ₹1,081.84 crore.
NSE’s $2.3 billion IPO is one of India’s largest on record, and comes as the country’s primary market draws major issuers, including billionaire Mukesh Ambani-backed Jio Platforms, which is expected to list by year-end.
The IPO by India’s largest bourse is entirely an offer for sale by existing shareholders, with NSE receiving no proceeds.
The public issue opens for subscription on Thursday and closes on Monday.
The strong participation from global institutional and domestic investors highlights the international interest surrounding NSE’s public-market debut.
Offshore investors accounted for 43 per cent of the anchor book, committing ₹2,883 crore, according to the exchange.
Up to 50 per cent of NSE’s IPO is reserved for qualified institutional buyers, including anchor investors, and about 35% of shares are set aside for retail investors.
NSE was advised in the IPO by 20 investment banks, including Kotak Mahindra Capital, SBICAPS, Pantomath, Axis Capital and top global banks led by Morgan Stanley, Citi and HSBC.
Agencies