Norway and Singapore wealth funds weigh in on Indian IPO

High profile anchor investors from Norway and Singapore have their eye on the new and biggest IPO in India, which means they will be allotted shares before the subscription opens for retail and other investors, but it also means they have to commit to holding their shares for a certain amount of time after the listing.

Norwegian wealth fund Norges Bank Investment Management and Singapore sovereign wealth fund GIC have subscribed to the anchor book, the source said.

The 123 anchor investors joining Life Insurance Corp. of India’s IPO committed to purchase shares at 949 rupees each, the top end of a marketed range, according to a stock exchange statement last week.

About Jaqueline Deeon

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

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