Abu Dhabi Investment Authority Snaps Up 1.17% Stake As Anchor in India’s NSDL IPO

The Abu Dhabi Investment Authority (ADIA) has continued its investment streak in India, acquiring a 1.17% stake in the National Securities Depository Limited (NSDL), the country’s oldest central depository.

The UAE’s largest sovereign wealth fund has emerged as one of the anchor investors in NSDL’s 40.12 Indian rupees ($460 million) IPO, which opens for subscription today.

According to the BSE disclosure, ADIA has picked up 174,996 equity shares in NSDL at a price of INR 800 per share, amounting to INR 140 million in total investment.

The Life Insurance Corporation of India has the biggest anchor allotment with a 11.99% stake, followed by the Smallcap World Fund with an 8.33% stake.

With $1.11 trillion in assets under management, ADIA’s growing portfolio of India investments saw the wealth fund pick up a 3% stake in Indian medical devices company, Micro Life Sciences Private Limited (Meril) last week for $200 million.