Life Insurance Corporation of India (LIC) has emerged as the biggest bidder in the National Stock Exchange (NSE) IPO, placing bids worth around ₹4,500 crore, according to a Bloomberg report.
The reported bid highlights strong participation from large institutional investors in the ₹22,569-crore NSE share sale. The IPO was subscribed 5.71 times, with institutional investors accounting for a significant portion of the demand.
ICICI Prudential Asset Management Company and Quant Mutual Fund reportedly placed bids worth around ₹2,000 crore each. Norges Bank Investment Management and Mirae Asset Mutual Fund were also reported to have submitted bids of approximately ₹1,000 crore each.
The strong institutional interest contrasts with comparatively lower participation from retail investors, pointing to a clear difference in demand across investor categories.
NSE has fixed the IPO price at ₹1,785 per share. The shares are scheduled to list on the BSE on September 24, following the completion of the allotment process.
The IPO marks a significant milestone for NSE after years of discussions around its public listing. Existing shareholders are offering shares through the issue, making it an offer-for-sale transaction.
LIC’s reported participation adds to the institutional interest surrounding the listing as investors assess NSE’s position in India’s rapidly expanding capital markets.
