Jio Platforms raises Rs 8,110 crore from 212 anchor investors ahead of Rs 30,188-crore IPO; LIC, Capital Group among top investors
Jio Platforms IPO | The country's largest public issue worth Rs 30,187.6 crore is set to open on October 21 and close on October 23. The price band for the offer has been fixed at Rs 1,065-1,119 per share.
Jio Platforms on October 19 mobilised Rs 8,109.84 crore from 212 anchor investors including the marquee global names like BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco, and Prudential, ahead of its IPO opening for the public subscription. The country's largest IPO worth Rs 30,187.6 crore is set to open on October 21 and close on October 23.
The price band for the offer has been fixed at Rs 1,065-1,119 per share. The much-awaited initial public offering (IPO) comprises a fresh issue of 27 crore equity shares, representing 2.9 percent of the company's post-issue equity capital. The issue includes a reservation of shares worth Rs 500 crore for Jio Platforms employees and Rs 2,500 crore worth of shares for eligible shareholders of its parent company, Reliance Industries.
The company will offer shares to eligible employees at a discount of Rs 54 per share to the final offer price. Jio Platforms, the parent company of telecom operator Reliance Jio Infocomm, has allocated 7.24 crore equity shares to anchor investors at the upper end of price band. Moneycontrol was the first to report that aggregate institutional demand for the anchor book has touched nearly Rs 2.5 lakh crore, making it the first Indian IPO to attract demand of this magnitude.
The interest spans some of the world's largest asset managers and sovereign wealth funds, India's leading mutual fund houses, insurers and pension funds, underlining the breadth of institutional appetite for the telecom and digital services company. Some of the world’s most prominent sovereign wealth funds have also shown interest in the issue. These include Singapore’s GIC, Norway’s Norges Bank Investment Management, Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA), PSP Investments, California State Teachers Retirement, and Florida Retirement System.
Domestic institutional participation is equally strong. All of India's top 10 mutual fund houses have shown interest in the offering. Among them are SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund, and Kotak Mahindra Mutual Fund. "Of this total allocation, 2.48 crore equity shares worth Rs 2,784.96 crore were issued to 25 domestic mutual funds which have applied through their 95 schemes," Jio Platforms in its filing said.
The country’s largest insurers and pension funds are also part of the investor pool. These include Life Insurance Corporation of India (LIC), HDFC Life, SBI Life, SBI Pension (NPS Trust), HDFC Pension, ICICI Prudential and UTI Pension, among others, which picked up 97.4 lakh shares worth Rs 1,089.95 crore. Global tech specialists such as Dragoneer Investment Group, Janus Henderson, and Ninety One participated in the anchor book.
Leading Indian family offices, including Enam Family Office, Premji Invest, Zerodha Family Office, and HCL Family Office, have also shown interest in the Jio Platforms. Jio Platforms, the technology platform backed by global names like Meta, Google, KKR, Silver Lake, General Atlantic Singapore, Abu Dhabi Investment Authority, and TPG, will utilise Rs 27,500 crore of net IPO proceeds for repaying a part of debt availed by the material subsidiary Reliance Jio Infocomm.
And the remaining funds will be used for general corporate purposes. Mobile, fixed broadband and digital services, along with data and customer personalisation services provider Reliance Jio Infocomm, which contributed most of the revenue to Jio Platforms, served 53.33 crore customers in India as of June 2026. The telecom operator has reported 6.8 percent year-on-year growth in profit to Rs 7,166.9 crore, and 10.8 percent on-year increase in revenue to Rs 34,212.1 crore in April-June 2026 quarter.
Digital connectivity provider Jio Platforms has recorded profit of Rs 7,765 crore for three months ended June 2026, growing 9.1 percent from Rs 7,114.7 crore in corresponding period of previous fiscal. Revenue during the same period increased 11.8 percent to Rs 39,172.9 crore from Rs 35,032.3 crore. The merchant bankers managing the Jio Platforms IPO are Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, Axis Capital, BNP Paribas, Citigroup Global Markets India, CLSA India, DAM Capital Advisors, Goldman Sachs (India) Securities, HDFC Bank, HSBC Securities and Capital Markets (India), ICICI Securities, IIFL Capital Services, Jefferies India, JM Financial, JP Morgan India, SBI Capital Markets, UBS Securities India, and 360 ONE WAM.
