NEW DELHI: Jio Platforms has allotted shares worth ₹8,109.85 crore to 212 anchor investors at the upper end of its price band of ₹1,119 per share, after institutional demand for the offering reportedly exceeded ₹2.5 lakh crore, more than 30 times the amount available in the anchor book.
The allotment of 7.24 crore shares comes ahead of the initial public offering (IPO), which opens for public subscription on October 21 and closes on October 23. The strong anchor demand signals significant institutional interest in what is expected to be India’s largest IPO, although broader investor participation will become clearer once public bidding begins.
The Life Insurance Corporation of India received the largest allocation, worth ₹499.98 crore, accounting for 6.17 per cent of the anchor portion. New World Fund Inc was allotted shares worth ₹486.27 crore, followed by the Government of Singapore at ₹340.93 crore, SBI Focused Fund at ₹315 crore and BNP Paribas Financial Markets–ODI at ₹303.25 crore.
Domestic mutual funds received 2.489 crore shares worth ₹2,784.96 crore, representing 34.34 per cent of the anchor book through 95 schemes across 25 fund houses. Life insurers and pension funds received 97.4 lakh shares worth ₹1,089.95 crore, accounting for 13.44 per cent of the allocation.
Both categories exceeded the proportions earmarked for them under the red herring prospectus dated October 14. Major global investors participating in the anchor book include BlackRock, Fidelity, Capital Group, T. Rowe Price, Schroders, JPMorgan Asset Management and Franklin Templeton. Sovereign and public investment institutions include the Abu Dhabi Investment Authority and the Monetary Authority of Singapore.
Jio Platforms plans to raise approximately ₹30,213 crore through a fresh issue of up to 27 crore shares, priced between ₹1,065 and ₹1,119 apiece. The offering values the company at around $108 billion, according to the offer documents.
A portion of the proceeds will be used to repay debt at its telecom subsidiary, while the remainder will go towards general corporate purposes. Reliance Industries Ltd, controlled by Mukesh Ambani, will retain a majority stake following the listing.
Jio Platforms has expanded from mobile connectivity into broadband, digital entertainment, cloud and enterprise services. The company had 533.3 million subscribers as of June 2026 and carried nearly 60 per cent of India’s data traffic, according to reported company figures.
The IPO will give public-market investors direct exposure to a business that has so far operated as a subsidiary of Reliance Industries. While the scale of institutional participation indicates strong initial interest, analysts note that anchor subscriptions do not guarantee similar demand from retail investors or gains after listing.
Investors are expected to assess Jio’s subscriber base and digital growth opportunities alongside competitive pressures, regulatory risks, capital requirements and its ability to convert scale into sustained revenue and profit growth. The public subscription period will provide a clearer indication of the wider market’s appetite for the landmark offering.
