NSE Raises INR 6,746.18 Cr from Anchor Investors Ahead of IPO
NSE raises INR 6,746.18 crore from anchor investors ahead of IPO, led by GIC, ADIA and Norges Bank.
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National Stock Exchange of India Limited (NSE) has raised INR 6,746.18 crore from anchor investors ahead of its initial public offering, allocating 37,793,739 equity shares at INR 1,785 per share, the company informed the exchanges.
The anchor book drew interest from more than 150+ investors across geographies including the US, Europe and Asia. Foreign institutional investors accounted for a significant share of the demand, with more than 20 foreign long-only funds participating. FPIs invested approximately INR 2,883 crore, or 43% of the total anchor book, including sovereign wealth funds such as GIC Singapore, ADIA and Norges Bank, along with Fidelity, GSAM, Eastspring and HSBC GAM.
Domestic participation came from a diversified pool of mutual funds, insurance companies and pension funds, including SBI Mutual Fund, ICICI Prudential, HDFC MF, Nippon MF, Axis MF, Aditya Birla MF, Kotak MF, UTI MF, Mirae MF, Tata MF, Franklin Templeton MF, Edelweiss MF, HSBC MF and LIC MF. Top insurers LIC, HDFC Life, SBI Life and SBI General, along with leading pension funds, also participated. More than 25 domestic mutual funds and 11 domestic insurance and pension companies invested around INR 3,588 crore, or 53% of the total anchor book.
NSE is among the top 5 holdings of LIC, which is currently the exchange’s largest shareholder with a 10.72% stake a holding larger than the IPO’s total offer size. LIC participated in the anchor book through three entities, LIC, LIC Mutual Fund and LIC Pension Fund, investing more than INR 500 crore. SBI Group, which is selling a 1% stake in NSE through SBI Bank and SBI Capital, invested more than ₹400 crore through SBI Mutual Fund, SBI General, SBI Life and SBI Pension.
Several existing private investors also increased their holdings in NSE as part of the anchor allocation.
National Stock Exchange of India Limited (NSE) has raised INR 6,746.18 crore from anchor investors ahead of its initial public offering, allocating 37,793,739 equity shares at INR 1,785 per share, the company informed the exchanges.
The anchor book drew interest from more than 150+ investors across geographies including the US, Europe and Asia. Foreign institutional investors accounted for a significant share of the demand, with more than 20 foreign long-only funds participating. FPIs invested approximately INR 2,883 crore, or 43% of the total anchor book, including sovereign wealth funds such as GIC Singapore, ADIA and Norges Bank, along with Fidelity, GSAM, Eastspring and HSBC GAM.
Domestic participation came from a diversified pool of mutual funds, insurance companies and pension funds, including SBI Mutual Fund, ICICI Prudential, HDFC MF, Nippon MF, Axis MF, Aditya Birla MF, Kotak MF, UTI MF, Mirae MF, Tata MF, Franklin Templeton MF, Edelweiss MF, HSBC MF and LIC MF. Top insurers LIC, HDFC Life, SBI Life and SBI General, along with leading pension funds, also participated. More than 25 domestic mutual funds and 11 domestic insurance and pension companies invested around INR 3,588 crore, or 53% of the total anchor book.
