Jio Platforms Raises ₹8,110 Crore From Anchor Investors Ahead Of IPO
· Business · LiveMint, Financial Times
Reliance Industries subsidiary Jio Platforms allotted shares worth ₹8,110 crore to 212 anchor investors at ₹1,119 per share ahead of its October 21 initial public offering. Life Insurance Corporation of India received the largest anchor allocation worth ₹500 crore, accounting for 6.17% of the book. The company aims to raise approximately ₹30,213 crore through a fresh issue of up to 27 crore shares, valuing the business at roughly $108 billion at the upper price band. Domestic mutual funds secured shares worth ₹2,785 crore across 95 schemes from 25 fund houses, while global institutional investors such as BlackRock and Fidelity also participated. The IPO opens for public subscription on October 21 and closes on October 23, with proceeds partly dedicated to paying down subsidiary debt.
Why it matters
The strong institutional demand sets the stage for what is expected to be India's largest-ever public offering, drawing major participation from domestic funds and global sovereign investors.
Read the original report — LiveMint
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