NSE IPO Anchor Book Attracts Over 150 Investors

The National Stock Exchange (NSE) has raised ₹6,746.18 crore from more than 150 anchor investors ahead of its initial public offering (IPO).

Overseas investors accounted for 43% of the anchor book, while domestic institutional investors contributed another 53%. The anchor allocation covers 3.78 crore shares priced at ₹1,785 each.

The NSE IPO opened for public subscription on Thursday, 17 September, and will remain open until 21 September. The strong participation in the anchor book included sovereign wealth funds, global asset managers, and long-only funds from the US, Europe, and Asia.

Who Invested In The NSE Anchor Book?

Foreign portfolio investors invested about ₹2,883 crore in the anchor portion. More than 20 overseas long-only funds took part, including Singapore's sovereign wealth fund GIC, the Abu Dhabi Investment Authority, and Norges Bank.

Several large global asset managers also participated. These included Fidelity, Goldman Sachs Asset Management, Eastspring Investments, and HSBC Global Asset Management, according to people familiar with the bids.

Domestic institutional demand was also spread across several large investors. More than 25 mutual funds, along with 11 insurance and pension companies, invested around ₹3,588 crore in the anchor book.

The participating mutual fund houses included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, UTI Mutual Fund, Mirae Asset Mutual Fund, and Franklin Templeton.

Existing NSE Shareholders Also Participate

Some of NSE's existing shareholders have also invested in the anchor book ahead of the public issue.

Life Insurance Corporation of India (LIC), which holds a 10.72% stake in NSE, invested more than ₹500 crore through LIC, LIC Mutual Fund, and LIC Pension Fund. Its existing holding remains larger than the stake being offered through the IPO.

The SBI group is another existing shareholder participating in the anchor allocation. State Bank of India and SBI Capital Markets are selling a 1% stake in NSE, while SBI Mutual Fund, SBI General, SBI Life, and SBI Pension Fund have invested more than ₹400 crore collectively.

Also Read - NSE IPO Opens Today: What Investors Are Buying At A ₹4.42 Lakh Crore Valuation