Reliance Jio Platforms’ upcoming initial public offering (IPO) has attracted massive institutional interest, with bids for its anchor investor portion exceeding $25 billion or more than 30 times the shares available for allocation. Jio Platforms allocated shares worth more than ₹8,100 crore to anchor investors, according to a company filing.
The strong demand highlights the attention global investment heavyweights are paying to Mukesh Ambani’s telecom and digital services business ahead of its stock market debut.
The company opened its anchor book on Monday, October 19, allowing institutional investors to bid for shares ahead of the public issue, which opens on Wednesday, October 21.
Jio Platforms’ anchor book attracted bids from prominent international and domestic institutions, underlining the breadth of interest in the offering. The anchor investor portion was reserved exclusively for institutions, which could bid for up to 30% of the overall offering.
The company allotted 7.24 crore shares to institutional investors, reflecting strong demand ahead of what is expected to be India’s biggest-ever IPO.