Jio Platforms’ Anchor Book Draws 30 Times Demand, Institutional Bids Touch ₹2.5 Lakh Crore

Jio Platforms’ ₹8,110-crore anchor book has attracted institutional bids worth around ₹2.5 lakh crore, exceeding the amount on offer by more than 30 times, reflecting strong investor interest ahead of the company’s much-anticipated stock market debut.

Global asset managers, sovereign wealth funds, domestic mutual funds, insurers and pension funds participated in the bidding. Major international investors included BlackRock, Fidelity Investments, Capital Group, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Janus Henderson. Sovereign and public investment institutions included Singapore’s GIC, the Abu Dhabi Investment Authority, the Qatar Investment Authority and Norway’s Norges Bank Investment Management.

Indian participants included SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Kotak Mahindra Asset Management Company and Aditya Birla Sun Life Mutual Fund. Life Insurance Corporation of India, HDFC Life Insurance, SBI Life Insurance, SBI Pension Funds, HDFC Pension and ICICI Prudential were also among the institutional investors.

According to people familiar with the matter, some large overseas and domestic investors sought allocations worth $750 million to more than $1 billion each. Major funds are expected to receive shares worth ₹400 crore to ₹450 crore apiece, while smaller allocations could range from ₹10 crore to ₹20 crore.

The public issue opens on October 21 and closes on October 23. Jio Platforms aims to raise approximately ₹30,213 crore at a proposed valuation of around $108 billion. The price band is ₹1,065 to ₹1,119 per share, with the offer comprising up to 27 crore new shares. It is expected to become India’s largest initial public offering (IPO).

Part of the proceeds will support debt repayment at its telecom subsidiary, with the remainder also intended for general corporate purposes. Reliance Industries, controlled by billionaire Mukesh Ambani, will retain a majority stake following the listing.

Jio Platforms has diversified into broadband, digital entertainment, cloud and enterprise services beyond mobile connectivity. It had 533.3 million subscribers as of June 2026 and accounted for nearly 60 per cent of India’s data traffic.