Jio Platforms’ anchor book oversubscribed 30-plus times, drawing ₹2.5 trn in bids
The anchor portion of Jio Platforms Ltd’s upcoming IPO attracted more than 30-fold oversubscription, with institutional investors bidding a record ₹2.5 trillion.
Jio Platforms Ltd, which houses Reliance’s telecom and digital businesses, announced an anchor book of ₹8,110 crore that was subscribed more than 30 times, with institutional demand reaching a historic ₹2.5 trillion. The company plans to raise up to ₹30,213 crore at the top of its price band, with the public offering scheduled from October 21 to October 23. Key anchor allocations included LIC of India (₹500 crore, 6.17%), Capital Group’s New World Fund (₹486.2 crore, 6%), and the Government of Singapore (₹341 crore, 4.2%), alongside numerous global sovereign wealth funds and mutual funds.
Existing investor ADIA also placed additional bids, receiving a 2.96% allocation. Analysts expect the strong anchor demand to spur robust participation in the main book and boost Jio’s market debut, potentially placing it among India’s largest listed firms with a market cap exceeding ₹10 trillion.
Why it matters
The record demand signals strong investor confidence in India’s telecom sector and could set a new benchmark for future Indian IPOs.
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