Kuwait Investment Authority invests in a small finance bank in India

KUWAIT: Kuwait’s sovereign wealth fund is among a small group of anchor investors backing a finance bank in India head of its initial public offering. The AU Small Finance Bank raised $87 million from investors including Kuwait Investment Authority, GIC Pte, the sovereign wealth fund of Singapore and US-based private equity firm East Bridge Capital, reported VCCircle website.

Other foreign investors who took part in the anchor allotment include the Master Trust Bank of Japan, Singapore hedge fund Amansa Holdings and investment funds of Nomura, Wells Fargo and HSBC.

As many as 13 domestic mutual funds also bought shares. Anchor investors are institutional investors who accept a one-month lock-in period for a sizeable allocation of shares and support a public offering. The Jaipur-based AU Small Finance Bank is hoping to raise $1.6 billion through the IPO.

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