NSE IPO: Exchange allots Rs 6,746 crore worth shares to anchor investors
Life Insurance Corporation of India (LIC) emerged as the largest anchor investor, picking up shares worth Rs 400 crore.
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The National Stock Exchange of India (NSE) has allotted shares worth Rs 6,746 crore to anchor investors ahead of its initial public offering (IPO), which opened for subscription today on September 17.
The shares were allotted at Rs 1,785 apiece, the upper end of the IPO's price band. Life Insurance Corporation of India (LIC) emerged as the largest anchor investor, picking up shares worth Rs 400 crore, or 5.93% of the anchor allocation.
Other major investors included Norway's Government Pension Fund, Abu Dhabi Investment Authority and asset manager Fidelity.
NSE's IPO is entirely an offer for sale (OFS) by existing shareholders, meaning the exchange itself will not receive any proceeds from the issue. The public offering opens on September 17 and closes on September 21.
The IPO is priced in the Rs 1,700-Rs 1,785 per share range and is expected to raise around Rs 22,569 crore at the upper end of the band.
Up to 50% of the issue is reserved for qualified institutional buyers, including anchor investors, while around 35% is reserved for retail investors.