20/10/2026
Indiaโs Jio Platforms heads into its IPO with heavy global demand.
The telecom and digital arm of Reliance Industries allotted 81.1 billion rupees (about $854 million) worth of shares to 212 anchor investors on Monday at 1,119 rupees (about $11.80) each, the top of its price band. Bids for that portion reached roughly 2.5 trillion rupees ($26.3 billion), more than 30 times the shares available.
Anchor investors are large institutions that commit before an IPO opens to the public. This group includes BlackRock, Singaporeโs GIC, Capital Group, Fidelity, JPMorgan Asset Management, the Abu Dhabi Investment Authority and Indiaโs state insurer LIC.
The full offering aims to raise up to $3.2 billion. That makes it Indiaโs largest IPO ever in rupee terms and the second largest in dollar terms. Public bidding runs Wednesday to Friday.
At the top of the range, Jio is valued at about $108 billion, below the $130 billion-plus figures floated a year ago. Up to $2.9 billion of the proceeds will go to paying down debt at its mobile operator, Reliance Jio Infocomm.
Source: CNBC
Jio Platforms plans to raise up to $3.2 billion through an IPO, which is India's largest ever in rupee terms, but the second largest in dollar terms.