NSE IPO draws 'unexpectedly large' demand, anchor book tops ₹6,000 cr: CEO
NSE's Ashishkumar Chauhan said demand for the IPO significantly exceeded shares available, while the anchor book was reduced from about ₹9,000 crore to over ₹6,000 crore
The National Stock Exchange (NSE) has attracted strong institutional interest for its ₹22,569-crore IPO, with the anchor book exceeding expectations, according to Managing Director and CEO Ashishkumar Chauhan. The bidding for anchor investors will occur on September 16, and potential participants include Goldman Sachs Asset Management, Franklin Templeton, Fidelity International, Norges Bank Investment Management, Abu Dhabi Investment Authority, and GIC.
The anchor book is projected to be around ₹6,250 crore, smaller than the earlier estimated ₹9,000 crore. The exchange must distribute shares among various categories of institutional investors, including domestic mutual funds, other institutions, and foreign investors. NSE has not yet applied for a permitted-to-trade category for its shares and would consult Sebi if it decides to pursue the option.
With a large shareholder base of 2 lakh, NSE will achieve 100% free float after listing. The IPO, an offer for sale (OFS), is set to open for public subscription on September 17 and close on September 21, with a price band of ₹1,700 to ₹1,785 per share.
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- NSE anchor book exceeds expectations, says Ashishkumar Chauhan thehindubusinessline.com
