Fidelity, Norges among buyers of Swiggy shares in India IPO
Adds details from the investor allocation report
Nov 5 (Reuters) -Swiggy SWIG.NS sold shares worth $605 million to institutional investors including Fidelity and Norges on Tuesday as the food delivery firm launches a $1.35 billion IPO that will be India's second-largest stock offering this year.
Norway's sovereign wealth fund Norges was allocated 4.46% of the portion reserved for big "anchor" investors and Nomura purchased 4.13%, while Fidelity funds snapped up a combined 7.8% stake.
Domestic mutual funds purchased shares worth a total $246 million, or 40.65% of the anchor book, the company said in a stock exchange filing.
Anchor investors including Norges and Fidelity had placed bids worth more than $15 billion in the IPO, 25 times the $605 million portion reserved for such investors, Reuters reported last week.
Swiggy's IPO will open for public subscription from Nov. 6 to Nov. 8, and the stock is expected to list on domestic bourses on Nov. 13.
($1 = 84.0950 Indian rupees)
Reporting by Hritam Mukherjee in Bengaluru; Editing by Angus MacSwan
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