MUMBAI (Reuters) – U.S. funds T Rowe Price (TROW.O) and TPG are among anchor investors for Indian utility Adani Power’s initial public offer to raise as much as $623 million, two sources with knowledge of the deal said on Monday.
Adani, which opens its 301.65 million share offer on Tuesday at a price range of 90 to 100 each, has placed 52.85 million shares to anchor investors, said the sources, who declined to be named.
“The anchor investor placement is done,” one source said.
Adani Power is the first Indian IPO to get an anchor investor after the regulator allowed such investments starting last month.
(Reporting by Narayanan Somasundaram; Editing by Himani Sarkar)