National Securities Depository Ltd, India's first and largest securities depository, raised Rs 1,201.44 crore from anchor investors on Tuesday ahead of its initial public offering.
The company allotted 1.5 crore shares at Rs 800 apiece to 61 anchor investors. Life Insurance Corp. got the highest allocation of 11.99%. SmallCap World Fund Inc. got the second highest allotment of 8.33% and Fidelity Funds-India Focus Fund got 5.41% stake in the company.
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Twelve domestic mutual funds have applied through 22 schemes and collectively netted 35.27% of the anchor portion. SBI Banking and Financial Services, ICICI Prudential, HDFC, Nippon Life India and Aditya Birla Sun Life were the major fund houses in this category, the security depositor said in an exchange filing.
ICICI Securities Ltd., Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., SBI Capital Markets Ltd., IDBI Capital Markets & Securities Ltd. and Motilal Oswal Investment Advisors Ltd. are the book-running lead managers to the issue.
The company will launch its initial public offering on Wednesday to raise up to Rs 4,012 crore. The company has set a price band of Rs 760-800 per share for its three-day IPO, which only comprises an offer for sale. The minimum application lot size is 18 shares.
The offer, which concludes on Friday, is set to list on the BSE and the National Stock Exchange.
The NSDL IPO is entirely an offer for sale of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, the National Stock Exchange of India, and the State Bank of India.
IDBI Bank will sell up to 2.22 crore shares, SBI will sell up to 40 lakh shares, NSE will offload up to 1.8 crore shares, and HDFC Bank will sell up to 20 lakh shares. Currently, IDBI Bank and NSE hold 26.01% and 24% stake, respectively, in NSDL. HDFC Bank holds a 7.95% stake, Deutsche Bank and SBI hold a 5% stake.
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