Overview
The National Stock Exchange of India (NSE) IPO anchor book totals ₹6,746 crore. By the end of Day 2 the issue was fully subscribed at 1.16 times, according to data on the exchange’s website.
Domestic vs Foreign Anchor Participation
Domestic anchors contributed approximately ₹3,464 crore, representing 51.4 % of the total anchor mobilisation, marginally ahead of foreign anchors. Within the domestic cohort, mutual funds received nearly 37 % of the allocation, while foreign portfolio investors accounted for about 43 %.
Leading Domestic Merchant Bankers
Five Indian merchant bankers—Kotak Mahindra Capital, SBICAPS, JM Financial, Axis Capital and Pantomath Capital—collectively mobilised ₹3,261 crore, equivalent to 48.3 % of the entire anchor book. Their combined contribution is almost identical to the ₹3,282 crore raised by the four major global banks.
International Banking Syndicate
The international banking syndicate comprising Morgan Stanley, Citi, HSBC and JP Morgan together secured roughly ₹3,282 crore of anchor commitments, matching the total mobilised by the domestic merchant bankers.
Major Anchor Investors
LIC emerged as the largest individual anchor investor. Among foreign institutions, Norway’s Government Pension Fund Global, the Monetary Authority of Singapore, and the Abu Dhabi Investment Authority also participated in the anchor book.
Implications
The near‑parity between domestic merchant bankers and global banks indicates a deepening of India’s primary‑market infrastructure and a broader domestic institutional base that now includes mutual funds, insurers and pension funds. Consequently, the NSE anchor book serves as a marker of a transition where India’s primary market is supported not only by substantial foreign capital but also by an increasingly sophisticated and sizable domestic institutional pool.
Disclaimer: The above press release comes to you under an arrangement with NRDPL. PTI takes no editorial responsibility for the same.