NSE IPO receives 42% subscription; Norway and Abu Dhabi funds invest
- Reports
- 4
- Developments
- 1
- Repetition
- 75%
New informationRepeats or wire copies
What happened
The National Stock Exchange of India’s Rs 225.69 billion IPO received 42% subscription on its first day of bidding. The offering, which is structured as an offer-for-sale, included allocations to the sovereign wealth funds of Norway and Abu Dhabi through its anchor book.
From indiatimes.com
Why it matters
The IPO is one of India’s largest offerings. While the grey market suggested a positive listing, analysts noted that concerns over slowing derivatives activity and tighter regulation could cause the stock to drift down.
Who's involved
- Abu DhabiSovereign wealth fund that invested in the NSE IPO anchor book
- NorwaySovereign wealth fund that invested in the NSE IPO anchor book
- Mukesh AmbaniBacks Jio Platforms, a major issuer in the IPO
- Jio PlatformsMajor issuer in the NSE IPO
- Reliance Industries LimitedParent company of Jio Platforms
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Jio PlatformsSpeculative
Jio Platforms might see its market valuation change due to the major capital raise via the IPO
- Reliance Industries LimitedSpeculative
Reliance Industries Limited could see its valuation affected by the market price of its subsidiary, Jio Platforms
Keep exploring
The entities involved
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Abu Dhabi
capital city of the United Arab Emirates
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Norway
country in Northern Europe
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Mukesh Ambani
Indian businessman
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Jio Platforms
Indian telecommunications and technology company