Abu Dhabi Investment Authority snaps up 1.17% stake as anchor in India's NSDL IPO
The UAE's largest sovereign wealth fund has emerged as one of the anchor investors in NSDL's 40.12 Indian rupees ($460 million) IPO, which opens for subscription today.
According to the BSE disclosure, ADIA has picked up 174,996 equity shares in NSDL at a price of INR 800 per share, amounting to INR 140 million in total investment.
The Life Insurance Corporation of India has the biggest anchor allotment with a 11.99% stake, followed by the Smallcap World Fund with an 8.33% stake.
With $1.11 trillion in assets under management, ADIA's growing portfolio of India investments saw the wealth fund pick up a 3% stake in Indian medical devices company, Micro Life Sciences Private Limited (Meril) last week for $200 million.
(Writing by Bindu Rai, editing by Brinda Darasha)
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