BlackRock and Sovereign Funds Seek Anchor Slots in Jio IPO
· Business · LiveMint, Economic Times
Global institutional investors and sovereign wealth funds, including the Abu Dhabi Investment Authority, Qatar Investment Authority, GIC, and Norges Bank, are seeking allocations in the anchor book of Jio Platforms Ltd’s upcoming public offering. Asset managers BlackRock and FMR LLC are also vying for a share of the ₹8,000 crore anchor book alongside roughly 15 domestic asset managers, such as HDFC Mutual Fund and SBI Mutual Fund. Parent company Reliance Industries Ltd filed its red herring prospectus with SEBI for an IPO aiming to raise up to ₹30,200 crore, or approximately $3.2 billion, at a price band of ₹1,069 to ₹1,119 per share. Under market regulations, up to 60 per cent of the qualified institutional buyer portion can be allocated to anchor investors, with half reserved for domestic mutual funds. Final share allocations will be determined before the retail and non-institutional bidding windows open.
Why it matters
The massive institutional demand for Jio's public offering marks one of the largest capital market events in India, drawing participation from top global funds and domestic asset managers.
Read the original report — LiveMint
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