NSE raises $700M from anchor investors ahead of India's biggest IPO
What's the deal? The National Stock Exchange of India (NSE)Dealroom has a profile for this one. Try Dealroom → has raised US$916.1M from anchor investors ahead of its initial public offering. The exchange allocated 37,793,739 shares at US$24.2 apiece, drawing more than 150 investors.
Why now? The IPO opens for public subscription on September 17 and closes September 21, 2026, with a price band of US$23.1 to US$24.2 per share. It is expected to raise around US$3.06B.
Who's buying? Foreign portfolio investors put in roughly US$391.5M, nearly 43% of the anchor book, spanning the US, Europe, and Asia. Marquee names included GIC Singapore, the Abu Dhabi Investment AuthorityDealroom has a profile for this one. Try Dealroom →, Norges BankDealroom has a profile for this one. Try Dealroom →, FidelityDealroom has a profile for this one. Try Dealroom →, Goldman Sachs Asset Management, EastspringDealroom has a profile for this one. Try Dealroom →, and HSBC Global Asset Management.
Who's buying? Domestic institutions invested around US$487.3M, about 53% of the book. More than 25 mutual funds and 11 insurers and pension companies took part, including SBI Mutual FundDealroom has a profile for this one. Try Dealroom →, ICICI PrudentialDealroom has a profile for this one. Try Dealroom →, HDFC Mutual FundDealroom has a profile for this one. Try Dealroom →, KotakDealroom has a profile for this one. Try Dealroom →, Franklin TempletonDealroom has a profile for this one. Try Dealroom →, and Edelweiss.
What's the endgame? The offering is an offer for sale, so proceeds go to existing shareholders rather than the exchange. Life Insurance Corporation of India, which holds a 10.72% stake in NSE, participated through three entities — LIC, LIC Mutual Fund, and LIC Pension Fund — investing more than US$67.9M combined.
The signal: The breadth of demand, split roughly evenly between foreign and domestic institutions, points to strong appetite for one of India's most closely watched listings — a rare chance to buy directly into the country's dominant equities marketplace.
Read more: etnownews.com
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