has raised ₹6,746.18 crore from anchor investors ahead of its, with , Government Pension Fund Global, Monetary Authority of Singapore and several large domestic mutual funds among the investors.
NSE allotted 3.78 crore shares to anchor investors at ₹1,785 per share, with LIC receiving the largest allocation at ₹450.30 crore, followed by Government Pension Fund Global at ₹249.99 crore and Monetary Authority of Singapore at ₹199.99 crore.
Among other large investors, SBI Life Insurance Company and HDFC Life Insurance Company received allocations of ₹149.99 crore each. Nippon India Large Cap Fund was allotted ₹139.99 crore, while Morgan Stanley Asia (Singapore) received ₹174.99 crore.
Foreign investors
The anchor book also saw participation from several overseas institutional investors, including Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Funds, Eastspring Investments India and Carmignac Portfolio. Abu Dhabi Investment Authority received an allocation of ₹199.99 crore, while Goldman Sachs Funds – Goldman Sachs India Equity Portfolio was allotted ₹84.80 crore.
“Foreign institutional demand was very strong with investors spread across geographies US, Europe & Asia and categories participating with large numbers. This strong support will help boost the foreign investment inflow into the country,” the exchange said, adding that NSE is a proxy to the “India Story”.
More than 20 foreign long only funds are participating in the book. FPIs are investing ₹2,883 crore or 43 percent of the total anchor book.
Domestic mutual funds accounted for a sizable part of the anchor book. Of the total anchor allocation, ₹2,494.99 crore, or 36.98 per cent, was allocated to 29 domestic mutual funds through 93 schemes. Among the larger mutual fund allocations, Nippon India Large Cap Fund received ₹139.99 crore, HDFC Flexi Cap Fund ₹129.99 crore, and SBI Banking & Financial Services Fund ₹99.99 crore. The anchor book also included several pension funds and insurance companies.
The allocation comes ahead of NSE’s IPO opening for subscription on Thursday and closing on next Monday. The public offer is entirely an offer for sale by existing shareholders comprising 12.64 crore shares, representing 5.11 per cent of the exchange’s equity. NSE will not receive any proceeds from the issue, which has been priced at ₹1,700-1,785 per share.
The exchange filed its red herring prospectus with the Registrar of Companies on September 10, after the draft prospectus was approved by the regulator on September 4.
After being stalled for nearly a decade, NSE’s listing plans gained momentum earlier this year after it received a no-objection certificate from the regulator. The exchange filed its draft red herring prospectus with SEBI in June.