NSE Allots Shares Worth Rs 6746 Crore to Record 189 Anchor Investors
Anchor book generated 20 times demand at nearly Rs 1.2 lakh crore, according to market sources
Mumbai: NSE allotted shares worth Rs 6746.18 crore to record 189 anchor investors at the upper price band of Rs 1785 per equity share ahead of its mega initial public offer. NSE's Rs 22,651.57 crore IPO in price band of Rs 1700 to Rs 1785 per equity share of Rs 1 face value opens on Thursday, Sept. 17.
Anchor book generated 20 times demand at nearly Rs 1.2 lakh crore, according to market sources.
Life Insurance Corporation of India was allotted shares worth Rs 400.3 crore, other investors included Norway's Government Pension Fund Global(Rs 250 Crore), Monetary Authority of Singapore( Rs200 crore), Abu Dhabi Investment Authority( Rs 200 crore), Fidelity Funds( Rs 178 crore).
Among domestic mutual funds 29 fund houses were allotted shares aggregating to 36.98 per cent of total anchor allocation through a total of 98 schemes.
Also 16.04 per cent of total anchor allocation went to 27 Life Insurance Company and Pension Funds, said a statement issued by NSE.
LIC, the largest shareholder at NSE currently holding 10.72 per cent (which is larger than the offer size of NSE) participated in anchor book through three of its entities – LIC, LIC Mutual Funds and LIC Pension funds by investing more than Rs 500 crore in total.
More than 20 long only foreign funds participated in the anchor book. Foreign portfolio investors are investing Rs 2,883 crore or 43 per cent of the total anchor book, said sources close to the merchant bankers managing NSE IPO.
Among domestic institutions SBI group which is selling 1 per cent stake through SBI Bank and SBI Capital in NSE IPO is also investing in NSE through its SBI Mutual fund, SBI General Insurance, SBI Life Insurance and SBI Pension by getting allocations worth more than Rs 400 crore, sources said.