NSE IPO Raises Rs 6,746 Crore from Anchor Investors

The National Stock Exchange (NSE) has successfully raised Rs 6,746 crore from anchor investors prior to the highly anticipated initial public offering (IPO), which is now open for public subscription as of today, September 17. The exchange distributed 3.78 crore equity shares to 189 anchor investors at a price of Rs 1,785 per share, which is the maximum limit of its IPO price range.

Key Investors in the Anchor Book

The anchor book attracted participation from a variety of notable domestic and international investors, including the Life Insurance Corporation of India (LIC), Norway’s Government Pension Fund Global, Abu Dhabi Investment Authority (ADIA), GIC Singapore, Fidelity, Societe Generale, among others. LIC has emerged as the primary anchor investor, acquiring shares valued at approximately Rs 400 crore. Meanwhile, the Government Pension Fund Global invested around Rs 250 crore, whereas Societe Generale’s offshore desk purchased shares worth close to Rs 316 crore.

Investment Breakdown

Foreign portfolio investors (FPIs) contributed roughly Rs 2,883 crore, making up nearly 43% of the anchor book, while domestic participants accounted for about Rs 3,588 crore, or 53% of the total allocation. This domestic participation included over 25 mutual funds and 11 major insurance and pension funds. According to market sources, the anchor book garnered bids amounting to nearly Rs 1.2 lakh crore, signifying about 20 times the amount allotted to anchor investors.

IPO Pricing and Structure

The NSE has established a price range of Rs 1,700-1,785 per share for its IPO, which is set to remain open until September 21. Notably, this issue is purely an offer for sale (OFS), meaning that the NSE will not acquire any new capital through the IPO. Instead, the shares will be sold by existing shareholders. The exchange aims to raise around Rs 22,569 crore through this IPO, positioning it among the largest public issues in India.