Jio Platforms Raises ₹8,109 Crore From Anchor Investors Ahead Of IPO

Jio Platforms, the digital services subsidiary of Reliance Industries, has raised ₹8,109.84 crore from 212 anchor investors ahead of its initial public offering (IPO), scheduled to open on Oct 21.

The ₹30,187.6 crore public issue, described as India's largest, will close on Oct 23. Its price band has been fixed at ₹1,065 to ₹1,119 per share.

The offering comprises a fresh issue of 27 crore equity shares, representing 2.9% of the company's post-issue equity capital.

Jio Platforms has reserved shares worth ₹500 crore for employees and ₹2,500 crore for eligible Reliance Industries shareholders. Employees will receive a discount of ₹54 per share on the final offer price.

Global Investors Show Strong Interest In Jio Platforms IPO

The company allotted 7.24 crore shares to anchor investors at the upper end of the price band.

Major global investment firms participating in the allocation include BlackRock, Capital Group, Fidelity Investments, T Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Prudential.

According to Moneycontrol, institutional demand for the anchor book approached ₹2.5 lakh crore, reflecting substantial investor interest.

Prominent sovereign wealth funds expressing interest included Singapore's GIC, Norway's Norges Bank Investment Management, Abu Dhabi Investment Authority and Qatar Investment Authority.

PSP Investments, California State Teachers Retirement System and Florida Retirement System were also among the interested institutions.

Domestic Mutual Funds And Insurers Join Anchor Book

Indian institutional investors also demonstrated strong demand, with the country's 10 leading mutual fund houses showing interest.

Participants included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund.

In its filing, Jio Platforms said 25 domestic mutual funds received 2.48 crore shares worth ₹2,784.96 crore across 95 schemes.

Insurance companies and pension funds collectively secured 97.4 lakh shares valued at ₹1,089.95 crore.

These included Life Insurance Corporation of India (LIC), HDFC Life, SBI Life, SBI Pension, HDFC Pension, ICICI Prudential and UTI Pension.

The strong institutional response comes ahead of public subscription to the much-awaited offering by Reliance Jio Infocomm's parent company.