Norway, Singapore funds invest in India’s largest IPO

They include the Norwegian fund and the Singapore government, confirming an earlier report by Bloomberg News, as well as 15 domestic mutual funds accounting for 71% of the anchor allocation. Orders from retail investors for the listing will be taken starting today.

MUMBAI: India’s largest ever public offering drew anchor investors, including Norway’s sovereign wealth fund and the Singaporean government, raising 56.3 billion rupees (US$736mil or RM3.2bil) ahead of its full initial public offering (IPO).

The 123 anchor investors joining Life Insurance Corp of India’s (LIC) IPO committed to purchase shares at the top end of a marketed range, according to a stock exchange statement.