From Financialexpress · Urvi Malvania · · 1m 20s
Jio Platforms IPO Draws Record Institutional Bids
Jio Platforms' IPO anchor book secures 30.8x bids worth Rs 2.5 lakh crore ahead of October 21 listing.
In brief
Jio Platforms' IPO anchor book secures 30.8x bids worth Rs 2.5 lakh crore ahead of October 21 listing. Jio Platforms' IPO attracted record institutional bids of Rs 2.5 lakh crore, 30.8 times the allocation, ahead of its October 21 public subscription. Originally reported by Financialexpress.
Jio Platforms IPO Anchor Book
Jio Platforms' anchor book attracted record institutional bids of Rs 2.5 lakh crore ahead of its October 21 public subscription.
30.8x Subscription Demand
The anchor book attracted bids worth 30.8 times the Rs 8,110-crore allocation at the upper end pricing of Rs 1,119 per share.
Record Institutional Demand
This marks India's highest institutional demand for an IPO ahead of its October 21 public subscription.
Global and Domestic Investors
Over 200 investors including global asset managers, sovereign wealth funds, and domestic mutual funds participated in the bidding.
Key Participants
Participants included BlackRock, Capital Group, Fidelity, T Rowe Price, and Indian family offices like Enam and HCL.
Historical Context
ADIA invested Rs 5,683.50 crore in Jio Platforms in 2020 for a 1.16% stake, valuing the company at Rs 4.91 lakh crore.
IPO Details
The IPO opens on October 21 and closes on October 23 with a face value of Rs 10 per share.
The key point
Jio Platforms' IPO attracted record institutional bids of Rs 2.5 lakh crore, 30.8 times the allocation, ahead of its October 21 public subscription.
