Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity. The allotment included 21 domestic mutual funds (MFs), such as ICICI Prudential MF, SBI MF, and HDFC MF, which applied through 83 schemes.
While HMIL's initial public offering (IPO) is the country's largest ever, its anchor issue size is lower than that of digital payments firm One97 Communications (Paytm), which launched a ₹18,300 crore IPO in 2021. Since Paytm was a loss-making company, it had to reserve a higher portion of shares for qualified institutional buyers, allowing for a larger anchor allotment.
Anchor allotments are made to marquee investors a day before the IPO to instil confidence and provide cues to other investors.
This story is from the October 15, 2024 edition of Business Standard.
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This story is from the October 15, 2024 edition of Business Standard.
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