From mint · Pranati Deva · · 1m 40s
Reliance Jio IPO: Massive bids top $25 bn for anchor book
Reliance Jio's IPO anchor book attracts bids exceeding $25 billion from top investors.
In brief
Reliance Jio's IPO anchor book attracts bids exceeding $25 billion from top investors. Reliance Jio Platforms' IPO received anchor bids over $25 billion, with major global and domestic investors participating in the offering. Originally reported by mint.
Reliance Jio IPO Anchor Bids
Reliance Jio Platforms' ₹ 30,213 crore IPO drew anchor bids exceeding 30 times the available shares.
Anchor Book Allocation Details
The company allocated shares worth more than ₹ 8,100 crore to anchor investors, with bids exceeding $25 billion.
Key Investors in Anchor Book
Life Insurance Corporation of India received the largest allocation at ₹ 500 crore, accounting for 6.17% of the anchor book.
Domestic Mutual Funds
Domestic mutual funds received 2.48 crore shares worth ₹ 2,785 crore, or 34.34% of the anchor book.
Global Investors
The list of overseas investors included major asset managers such as BlackRock, Fidelity, Capital Group, and T. Rowe Price.
Jio's Market Position
Jio has more than 500 million subscribers, making it India's largest mobile operator with 533mn subscribers.
Financial Performance
Jio Platforms' revenue and net profit recorded compound annual growth rates of 16% and 18% between FY24 and FY26.
Investor Recommendations
Brookragge house Motilal Oswal recommended investors to subscribe for both listing gains and long term.
IPO Details
Jio Platforms is seeking to raise ₹ 30,213 crore through a fresh issue of shares with a price band of ₹ 1,065 to ₹ 1,119 per share.
Use of Proceeds
Jio plans to allocate up to ₹ 27,500 crore towards repaying borrowings at Reliance Jio Infocomm.
The main idea
Reliance Jio Platforms' IPO received anchor bids over $25 billion, with major global and domestic investors participating in the offering.
