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      Adia anchors IPO of Indian stock exchange operator

      Abu Dhabi Investment Authority (Adia) has become an anchor investor in the $2.3 billion initial public offering of the National Stock Exchange of India (NSE).

      The sovereign fund purchased shares worth INR2 billion ($21 million), or nearly 3 percent of the anchor book, the NSE said.

      The Indian stock market operator allocated shares worth INR67.46 billion to anchor investors ahead of its public flotation.

      The shares were allotted at the top end of the price band at INR1,785 each.

      State-backed Life Insurance Corporation of India is the largest investor, holding almost 6 percent of the anchor book.

      The public issue opens for subscription on Thursday and closes on Monday.

      This month Adia invested in the Indian government-backed National Investment and Infrastructure Fund, which aims to build large-scale infrastructure developments.

      In August, the sovereign fund became an anchor investor in the $970 million IPO of Indian healthcare provider Manipal Health Enterprises.

      The wealth fund has been an anchor investor in the IPOs of Indian stockbroker Groww and Clean Max Enviro Energy Solutions, a renewable energy company.

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      Source: AGBI
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