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Anchor book for Jio Platforms attracts ₹2.5 lakh ahead of IPO
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Anchor book for Jio Platforms attracts ₹2.5 lakh ahead of IPO

Institutional demand for the Jio Platforms share offering exceeded the anchor book by more than 30 times compared to the volume available in the anchor book. As a result, Jio Platforms allocated shares worth ₹8,109.85 crore to 212 anchor investors at the upper end of the price band, according to exchange documents and sources familiar with the situation.

The allocation of 7.24 crore shares at a price of ₹1,119 per share is taking place just before the start of the public subscription for the initial public offering, which opens on Wednesday.

This high level of demand highlights the interest of institutional investors in what is expected to be India's largest IPO, although the extent of this interest among the general public will become clear after the offer opens.

Life Insurance Corporation of India received the largest allocation, securing ₹499.98 crore, which accounts for 6.17 percent of the anchor portion. New World Fund Inc received shares worth ₹486.27 crore, followed by the Government of Singapore with ₹340.93 crore, SBI Focused Fund with ₹315 crore, and BNP Paribas Financial Markets - ODI with ₹303.25 crore.

Internal mutual funds received 2.489 crore shares totaling ₹2,784.96 crore, corresponding to 34.34 percent of the anchor book, through 95 schemes across 25 fund houses. Insurance companies and pension funds received 97.4 lakh shares worth ₹1,089.95 crore, or 13.44 percent of the total volume.

Both categories exceeded the volumes reserved for them in the prospectus dated October 14, which stipulated the allocation of 33.33 percent of the anchor portion to mutual funds and 6.67 percent to insurance companies and pension funds.

Global investment firms participating in the anchor book include BlackRock, Capital Group, Fidelity, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, and Janus Henderson. Among sovereign and government investment institutions are the Abu Dhabi Investment Authority and the Monetary Authority of Singapore, as well as other long-term institutional investors.

Sources close to the matter reported that some large foreign and domestic institutions placed bids for assets valued between $750 million and over $1 billion.

Jio Platforms plans to raise approximately ₹30,213 crore through a new issue of up to 27 crore shares at a price range of ₹1,065 to ₹1,119 per share. According to the offering documents, this values the company at approximately $108 billion USD.

The IPO is scheduled to open on October 21 and close on October 23.

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Jio Platforms IPO Begins: Isha Ambani Discusses the Company's 16-Year History
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www.aajtak.in

Jio Platforms IPO Begins: Isha Ambani Discusses the Company's 16-Year History

Investors are closely watching the upcoming Initial Public Offering (IPO) of Jio Platforms, the digital and telecommunications division of Reliance Industries. Senior employees of Jio Platforms will hold a press conference at 3:30 PM, where additional information regarding the company's IPO is expected to be disclosed.

The company has set the upper price limit for the IPO share at ₹1,119 per share. Investors must apply for a minimum of 12 shares, which costs ₹13,428 when purchasing one lot at the upper limit. Previously, on October 14, the company presented the Red Herring Prospectus (RHP) for the IPO.

During the event, Isha Ambani shared a story related to the beginning of Jio's operations, which spans 16 years.

The proposed Jio Platforms IPO is valued at approximately ₹30,213 crore. After going public, it will become the largest IPO in India to date. Both investors and the stock market are paying attention to this offering. The announcement of the Jio IPO also impacted Reliance Industries' shares, which rose by about 3% on Thursday and entered the list of fastest-growing stocks in the Nifty 50 index.

Alongside the IPO, the company has provided discounts for eligible employees. Eligible qualified employees applying under the employee reserve category will receive a discount of ₹54 on each share. There is a provision to reserve up to ₹500 crore worth of shares for eligible Jio Platforms employees. Furthermore, up to ₹2,500 crore worth of shares is reserved for qualified shareholders of Reliance Industries. Thus, a separate system was organized for qualified employees and shareholders of Reliance Industries for the IPO, in addition to regular investors.

At the opening of the IPO meeting, Uday Kotak from Kotak Mahindra Bank spoke, mentioning the beginnings of Reliance's operations. He noted that Jio transformed mobile communication in India and that Jio has existed for many years. Uday Kotak emphasized that Jio's IPO is a historic moment and represents the largest IPO in the country.

Speaking, Akash Ambani stated that Jio contributed to transforming India into a data-rich nation. He clarified that the company changed India's status from a data-scarce country to a data-abundant country. Akash Ambani stated that Jio's network metrics distinguish it from others. Today, Jio is one of the largest 5G networks outside of China.

Moreover, Akash Ambani added that the company developed its own system to provide customers with higher quality services and experiences they had not previously encountered. Jio has patented 7200 inventions.

In his speech, Akash Ambani stated that Jio's mission is to ensure high-quality service within the concept of a developed India. He noted that by observing Jio, they see people receiving improved connectivity. The company is constantly thinking about how to improve Jio's services. Akash reported that 53 million people trust Jio. The company is a fast-growing digital company, demonstrating an EBITDA margin of 53%. The company's business remains healthy. Since launching the 5G service three years ago, they have the highest number of users today.

During the press conference dedicated to the Jio IPO, Isha Ambani shared the 16-year history of Jio's inception. She recounted that the idea for Jio first arose in 2011. Recounting an interesting incident, she mentioned that while studying at Yale University in the USA, during a vacation when she came to India, she could not upload a college assignment due to slow internet at home. It was then that her brother, Akash Ambani, told her about the idea of digitalization and the founding of the company. She concluded that the company is in a better position now, in 2026.

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