Mumbai (Maharashtra) [India], September 16 (ANI): National Stock Exchange of India Limited (NSE) has raised about Rs 6,746 crore from anchor investors ahead of its initial public offering (IPO), with Life Insurance Corporation of India (LIC), Government Pension Fund Global, Monetary Authority of Singapore and several domestic and overseas institutional investors participating in the anchor book.
According to NSE’s regulatory filing on Wednesday, the company finalised the allocation of 3,77,93,739 equity shares to anchor investors at an anchor investor allocation price of Rs 1,785 per equity share, aggregating to Rs 6,746.18 crore.
LIC emerged as the largest individual anchor investor, receiving 22,42,584 equity shares, representing 5.93 per cent of the anchor allocation, for about Rs 400.30 crore.
Other prominent investors included Government Pension Fund Global, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Fidelity-managed funds, Goldman Sachs, Eastspring Investments India, Carmignac Portfolio, Morgan Stanley and several domestic mutual funds and insurance companies.
Domestic mutual funds accounted for a significant portion of the anchor book. NSE said, “Out of the 37,793,739 Equity Shares allocated to the Anchor Investors, 13,977,524 Equity Shares (i.e. 36.98% of the total allocation to Anchor Investors) were allocated to 29 domestic mutual funds, which have applied through a total of 98 schemes.”
The mutual fund participants included schemes from SBI, ICICI Prudential, HDFC, Nippon India, Kotak, Axis, Aditya Birla Sun Life, UTI, Mirae Asset, Tata, Invesco, Quant, WhiteOak Capital and HSBC, among others.
Life insurance companies and pension funds were also among the major participants in the anchor allocation. Apart from LIC, the list included SBI Life Insurance, HDFC Life Insurance, SBI Pension Funds, HDFC Pension Fund, Axis Max Life Insurance, UTI Pension Fund and Kotak Mahindra Life Insurance.
The exchange said, “Out of the 37,793,739 Equity Shares allocated to the Anchor Investors, 6,060,744 Equity Shares (i.e. 16.04% of the total allocation to Anchor Investors) were allocated to 27 Life Insurance Company and Pension Funds.”
NSE’s filing showed that Government Pension Fund Global was allocated shares worth about Rs 250 crore, while the Monetary Authority of Singapore and Abu Dhabi Investment Authority received allocations of about Rs 200 crore each.
The anchor allocation comes ahead of NSE’s IPO, which is scheduled to open for public subscription on Thursday, September 17. The offer is an entirely offer-for-sale issue, with a price band of Rs 1,700 to Rs 1,785 per equity share. (ANI)
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