Mumbai: National Stock Exchange of India has raised Rs 6,746.1 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Thursday, September 17.
The exchange allocated 3.78 crore equity shares to anchor investors at Rs 1,785 apiece, the upper end of its price band. More than 150 investors across regions and categories participated, reflecting strong institutional confidence in NSE’s market leadership and growth prospects.
The anchor book included sovereign wealth funds, global asset managers, mutual funds, insurance companies, pension funds and alternative investment platforms.
Marquee investors participate
Major investors included Life Insurance Corporation of India, Norway’s Government Pension Fund Global, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Fidelity Funds, SBI Life Insurance, Goldman Sachs and HSBC Global Investment Funds.
Foreign portfolio investors invested around Rs 2,883 crore, representing nearly 43% of the total anchor allocation, according to market sources. Domestic mutual funds, insurers and pension funds also recorded strong participation.
NSE allocated nearly 1.40 crore shares to 29 domestic mutual funds through 98 schemes. SBI Banking and Financial Services Fund, ICICI Prudential Balanced Advantage Fund and HDFC Banking and Financial Services Fund were among the participating schemes.
LIC reportedly invested over Rs 500 crore through its insurance, mutual fund and pension entities. SBI Group entities invested more than Rs 400 crore despite SBI and SBI Capital Markets selling part of their holdings through the IPO.
IPO closes September 21
NSE has fixed a price band of Rs 1,700 to Rs 1,785 per share. Investors can bid for a minimum of eight shares and in multiples of eight thereafter.
The offer will close on Monday, September 21. It comprises an offer for sale of up to 12.64 crore shares by existing shareholders.
The IPO contains no fresh issue, meaning NSE will not receive any proceeds. The shares are proposed to be listed on BSE after the issue is completed.
(By Shipra Rana)
