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Adia invests more in India: The Abu Dhabi Investment Authority, through its India-focused unit Monsoon, was allocated 1.1 mn shares — 2.96% of the anchor book — in the National Stock Exchange of India’s (NSE) IPO at the anchor price of c.INR 1.8 per share, according to an NSE filing (pdf). That puts Adia’s stake at just under INR 2 bn (around USD 20.9 mn), tying it with the Monetary Authority of Singapore and placing it third among all 189 anchor investors, behind only Life Ins. Corporation of India (5.93%) and Norway’s Government Pension Fund Global (3.71%).
The anchor book itself came in at INR 67.46 bn (USD 703 mn) as part of NSE’s broader USD 2.3 bn IPO, which opened Wednesday and closes Monday, with listing expected 24 September. Other anchor investors include GIC, Fidelity, and Goldman Sachs, alongside a long list of domestic mutual funds and pension schemes.
Worth noting: Lunate doesn’t appear in the anchor allocation list, despite previous reports that it was weighing a sizable allocation alongside Adia.
Adia also picked up a stake in another Indian listed company via a QIP: Neogen Chemicals disclosed in a filing (pdf) that Adia was allotted 5.33% of the specialty chemicals maker’s qualified institutional placement, or 141.9k shares, at INR 2.3 apiece — a stake worth roughly USD 3.3 mn in an issue that raised just under INR 600 crore (c. USD 62.6 mn) in total. Other anchors in that placement included ICICI Prudential, Invesco, Mirae Asset, and SBI Life Ins., each securing 13.33% (on a PAN-clubbed basis) of the issue.
BACKGROUND- Neogen makes bromine- and lithium-based specialty chemicals, historically for pharma and agrochemical clients, but it’s now pivoting toward battery-grade materials — electrolytes and lithium salts for EVs and energy storage — through a Mitsubishi-linked technology license and a new JV with Japan’s Morita Chemicals.
Adia has been investing in India for a while now — but recently it has also leaned more closely toward the physical supply chains behind electrification and AI infrastructure. This year, the fund backed Manipal Health Enterprises’ listing, anchored SBI Funds Management’s IPO, and took a stake in KRN Heat Exchangers’ INR 3.5 bn institutional placement.
