Jio Platforms raises ₹8,110 crore from anchor investors ahead of India’s largest IPO

Jio Platforms has raised ₹8,109.84 crore from 212 anchor investors ahead of its blockbuster initial public offering (IPO), drawing support from some of the world’s largest asset managers, including BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Prudential.

The anchor allocation, completed on October 19, comes just days before the public issue opens for subscription. Shares were allotted to institutional investors at the upper end of the IPO price band of ₹1,119 per share, signalling strong demand for what is set to become India’s largest-ever public offering.

The ₹30,187.6-crore IPO will open for subscription on October 21 and close on October 23. The company has fixed a price band of ₹1,065-1,119 per share for the issue.

The IPO consists entirely of a fresh issue of 27 crore equity shares, representing about 2.9% of the company’s post-issue equity capital. Proceeds from the offering are expected to support the company’s growth initiatives across digital services, connectivity, artificial intelligence and emerging technology businesses.

In addition to the institutional allocation, the issue includes a ₹500-crore reservation for employees of Jio Platforms and a ₹2,500-crore shareholder reservation for eligible investors in parent company Reliance Industries (RIL). Employees will be eligible to subscribe at a discount of ₹54 per share to the final issue price.

Domestic mutual funds, insurers, pension funds and sovereign investors featured prominently among the anchor investors, alongside several long-only global funds. The strong anchor response is likely to set the tone for broader institutional and retail participation when the issue opens later this week.