Jio Platforms Ltd.’s logo at a press conference ahead of the company’s listing ceremony at Reliance Corporate Park in Mumbai, India, Thursday, October 15, 2026.
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India’s Jio Platforms is more than 30 times oversubscribed for anchor investor slots in its initial public offering (IPO), attracting bids from major asset managers including BlackRock, Capital Group and GIC, sources said.
India’s largest telecom and digital services company, backed by Meta and Google, plans to raise up to 302 billion rupees ($3.2 billion) through the biggest IPO in India’s history in rupee terms.
The company’s anchor book received bids worth a total of 2.5 trillion rupees ($26.3 billion) for the 81.1 billion rupee anchor book portion, said the people, who could not discuss the matter due to legal restrictions.
Jio Platforms said in a release on Monday that it has finalized allotment of 72.47 million shares to fixed investors at the upper end of the price band of Rs 1,119 per share.
The anchor book is a portion of the total funding set aside for large institutional investors before the IPO’s public bidding begins.
Other large institutional investors who have been allotted shares include India’s state-owned insurance company. Life Insurance Co., Ltd.Fidelity Investments, JPMorgan Asset Management, and Abu Dhabi Investment Authority.
Jio Platforms’ IPO will be open to the public from Wednesday to Friday. Owned by Jio Platforms Reliance Industrieshas established itself as a technology company, not just a traditional utility provider. The IPO price values the company at about $108 billion, lower than the more than $130 billion valuation it floated a year ago.
