India's NSE allots shares worth $703 million to anchor investors, sources say
- NSE's highly anticipated $2.3 billion IPO, backed by top global investors, is set to open for public subscription this week
The National Stock Exchange of India allocated shares worth 67.45 billion rupees ($702.93 million) to more than 100 anchor investors ahead of its initial public offering, people familiar with the matter said on Wednesday.
India’s Life Insurance Corporation, Norway’s Norges Bank, Abu Dhabi’s sovereign wealth fund Abu Dhabi Investment Authority (ADIA) and U.S. asset manager Fidelity were among the top investors in NSE’s IPO anchor book, the people said on the condition of anonymity as they are not authorised to speak to the media.
LIC, Norges Bank, ADIA and NSE did not immediately respond to Reuters’ requests for comment. Fidelity declined to comment.
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.
Top investors in India’s NSE IPO trim stake sales, sources say
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.
Up to 50% of NSE’s IPO is reserved for qualified institutional buyers, including anchor investors, while about 35% of the shares are set aside for retail investors.
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