From mint · Dhanya Nagasundaram · · 1m 20s
Reliance Jio IPO: Global and Domestic Investors Eye Issue
Reliance Jio IPO draws ₹2.5 lakh crore commitments from global and domestic investors.
In brief
Reliance Jio IPO draws ₹2.5 lakh crore commitments from global and domestic investors. Reliance Jio Platforms' IPO has secured ₹2.5 lakh crore in commitments from LIC, leading mutual funds, AMCs, and global investors ahead of its October 21 listing. Originally reported by mint.
IPO Commitments
Reliance Jio Platforms' proposed ₹30,188-crore IPO has reportedly drawn nearly ₹2.5 lakh crore in commitments from global and domestic institutional investors.
Global Investors Interested
Global investors including sovereign wealth funds and asset managers Allianz and BlackRock reportedly express interest in the anchor book.
Domestic Institutions Targeting
LIC, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Kotak Mahindra Mutual Fund are among domestic prospective investors.
Additional Anchor Investors
Government of Singapore Investment Corporation, Fidelity, Norway's Government Pension Fund Global, New World Fund Inc and Smallcap World Fund Inc also reportedly interested.
IPO Price Band
Jio Platforms' IPO price band is fixed at ₹1,065, ₹1,119 per share with minimum bid of 12 shares.
Employee Discount
Eligible employees receive a ₹54 per share discount on the IPO price.
Subscription Timeline
Public issue opens on 21 October and closes on 23 October with anchor bidding on 19 October.
Proceeds Allocation
IPO proceeds will repay up to ₹27,500 crore of borrowings at Reliance Jio Infocomm.
The key point
Reliance Jio Platforms' IPO has secured ₹2.5 lakh crore in commitments from LIC, leading mutual funds, AMCs, and global investors ahead of its October 21 listing.
