India’s Jio lures marquee investors to IPO anchor book, bids top $25 billion

Mumbai, October 19 - Indian billionaire Mukesh Ambani's Reliance opened its record $3.2 billion Jio Platforms IPO anchor book on Monday, attracting over $25 billion in demand from notable investors. The telecoms, cloud, and AI group announced that Abu Dhabi Investment Authority, BlackRock, and Fidelity were among the entities to bid in the exclusive IPO anchor book, which is earmarked for institutional investors.

The company allocated shares worth 81 billion rupees ($853.31 million) to anchor investors, representing more than 30 times the quota reserved for them. The IPO, led by Mukesh Ambani's son Akash Ambani, is seen as a test for global investors' interest in Reliance Industries' scale and expansion into cloud and AI.