Key Takeaways
- The National Stock Exchange of India (NSE) allocated shares worth $702.93 million to over 100 anchor investors.
- Top investors include India’s Life Insurance Corporation, Norway’s Norges Bank, Abu Dhabi’s ADIA, and U.S. asset manager Fidelity.
- NSE’s $2.3 billion IPO is one of India’s largest, with the public issue opening for subscription on Thursday.
The National Stock Exchange of India (NSE) has allocated shares worth 67.45 billion rupees ($702.93 million) to more than 100 anchor investors ahead of its initial public offering (IPO), according to sources familiar with the matter.
Notable investors in the NSE’s IPO anchor book include the Life Insurance Corporation (LIC) of India, Norway’s Norges Bank, Abu Dhabi’s sovereign wealth fund Abu Dhabi Investment Authority (ADIA), and the U.S. asset manager Fidelity.
LIC, Norges Bank, ADIA, and NSE did not immediately respond to requests for comment. Fidelity declined to comment.
The NSE’s $2.3 billion IPO is one of the largest in India’s history, coming as the country’s primary market attracts major issuers, including billionaire Mukesh Ambani’s Jio Platforms, which is expected to list by year-end.
The IPO is entirely an offer-for-sale by existing shareholders, with NSE receiving no proceeds. The public issue is set to open for subscription on Thursday and close 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.
This move by NSE is part of a broader trend in India’s capital markets, where major issuers are seeking to tap into the country’s growing investor base and capital inflows.
