22.07.2016 - Sovereign funds take a liking to Indian IPOs
Primary markets are emerging as a new route to raise exposure to Indian equities for sovereign wealth funds (SWFs). Prominent SWFs such as Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA), Government Pension Fund Global (GPFG) of Norway and Monetary Authority of Singapore (MAS) invested in about 30% of the initial public offerings (IPOs) in the past 18 months. Narayana Hrudayalaya, InterGlobe Aviation, Parag Milk, VRL Logistics and Alkem Labs were some of the prominent investment targets. In Parag Milk Foods IPO of May 2016, SWFs of Abu Dhabi and Norway cumulatively subscribed to 8% of the total book and nearly 18% of the total anchor book...............................................Full Article: Source
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