The National Stock Exchange, India’s largest stock exchange, raised Rs 6,746.2 crore from anchor investors on September 16, a day ahead of its long awaited initial public offering opening for subscription. The anchor book saw participation from a wide mix of domestic and global institutional investors, with state owned insurer LIC emerging as the single largest buyer. Here is a full breakdown of the anchor book, who invested how much, and everything else worth knowing about the NSE IPO before it opens on September 17.
NSE IPO Anchor Book: Rs 6,746 Crore Raised
NSE raised a total of Rs 6,746.2 crore from anchor investors on September 16, a day before the public issue opened. The anchor book drew participation from a broad set of marquee names, including LIC, Government Pension Fund Global, the Monetary Authority of Singapore, Fidelity, the Abu Dhabi Investment Authority, Nippon Life, and HDFC Life, among several others.
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LIC Emerges As The Biggest Anchor Investor
LIC, which already holds a 10.72 percent stake in NSE, bought additional shares worth Rs 465.3 crore in the anchor book, making it the single largest buyer among all anchor investors in the issue. Beyond LIC, several other insurance backed institutions also participated, including SBI Pension Funds, SBI Life, HDFC Life, HDFC Pension Fund, Axis Max Life, UTI Pension Fund, and Kotak Mahindra Life. Taken together, insurance sector investors, including LIC, put in a combined Rs 1,081.8 crore, accounting for roughly 16 percent of the total anchor book.
Mutual Funds Take The Largest Share Of The Anchor Book
Domestic mutual funds ended up with the biggest slice of the anchor book. NSE allotted 1.39 crore shares to 29 domestic mutual fund houses, representing 36.98 percent of the total anchor book, with these fund houses applying through 98 different schemes. Participants included SBI Mutual Fund, ICICI Prudential AMC, HDFC AMC, Nippon Life India, Kotak Mahindra AMC, Axis Mutual Fund, Aditya Birla Sun Life AMC, UTI AMC, Mirae Asset, and Tata Mutual Fund, alongside Invesco, Quant Mutual Fund, WhiteOak Capital, and HSBC Mutual Fund.
Big Money From Overseas Investors Too
The anchor book also attracted sizeable commitments from large global institutional investors. Government Pension Fund Global, Norway’s sovereign wealth fund, invested Rs 250 crore, while the Monetary Authority of Singapore put in Rs 200 crore. The Abu Dhabi Investment Authority, through its Monsoon entity, also picked up shares worth Rs 200 crore.
NSE IPO Size, Price Band, And Key Dates
The NSE IPO is worth Rs 22,561.57 crore in total and opens for public subscription on September 17, with investors able to apply until September 21. The price band for the issue has been fixed at Rs 1,700 to Rs 1,785 per share. Allotment of shares is expected to be finalized on September 22, and the stock could begin trading on the BSE from September 24.
Unlike a typical initial public offering, this entire issue is structured as an offer for sale, meaning existing shareholders are together selling 12.64 crore shares rather than the company issuing new ones.
Why NSE Will Not Receive Any Money From This IPO
Because the issue is entirely an offer for sale, none of the proceeds raised through the IPO will go to NSE itself. Apart from expenses related to the issue, the entire amount raised will go to the existing shareholders who are selling their shares. Separately, the company has reserved shares worth Rs 70 crore for its employees, who will be able to buy them at a discount of Rs 170 per share to the final issue price.
NSE’s Dominant Position In India’s Stock Market
NSE is India’s largest stock exchange by overall turnover. For the three month period ended June 2026, it held a 93.05 percent share of the cash market and a 99.72 percent share of equity futures. Its share in equity options stood at 68.48 percent, while it commanded a full 100 percent share in exchange traded currency futures and currency options, with these derivatives figures calculated on the basis of total premium turnover.
Key Dates To Remember For The NSE IPO
The anchor book was finalized on September 16, and the public issue opens on September 17 and closes on September 21. Allotment is expected to be finalized on September 22, with listing on the BSE tentatively expected around September 24, though investors should watch for any official updates closer to these dates.
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Frequently Asked Questions
How much did NSE raise from anchor investors? NSE raised a total of Rs 6,746.2 crore from anchor investors on September 16, a day before its IPO opened for public subscription.
How much did LIC invest in the NSE IPO anchor book? LIC invested Rs 465.3 crore in the anchor book, making it the single largest anchor investor in the issue. LIC already held a 10.72 percent stake in NSE before this investment.
What is the price band and size of the NSE IPO?
The NSE IPO is worth Rs 22,561.57 crore, with a price band of Rs 1,700 to Rs 1,785 per share.
When does the NSE IPO open and close?
The NSE IPO opens for public subscription on September 17 and closes on September 21.
When will NSE IPO allotment and listing happen?
Allotment of NSE IPO shares is expected to be finalized on September 22, with listing on the BSE tentatively expected around September 24.
Is the NSE IPO a fresh issue or an offer for sale?
The entire NSE IPO is structured as an offer for sale, with existing shareholders selling 12.64 crore shares. Since there is no fresh issue, NSE itself will not receive any of the money raised, apart from covering issue related expenses.
Which foreign investors participated in the NSE IPO anchor book?
Foreign investors in the anchor book included Government Pension Fund Global, which invested Rs 250 crore, the Monetary Authority of Singapore, which invested Rs 200 crore, and the Abu Dhabi Investment Authority, through its Monsoon entity, which also invested Rs 200 crore.
How dominant is NSE in India’s stock market?
For the quarter ended June 2026, NSE held a 93.05 percent share of the cash market, 99.72 percent of equity futures, 68.48 percent of equity options, and 100 percent of exchange traded currency futures and currency options, making it India’s largest stock exchange by turnover.
