Jio Platforms' IPO draws Rs 2.5 lakh crore in anchor bids

Jio Platforms Ltd is expected to raise Rs 30,213 crore through a fresh issue of 27 crore equity shares at the upper-end price band of Rs 1,119 per share. The Indian Express reports that the issue is poised to be the country's largest IPO to date. The price band for the offering is set between Rs 1,065 and Rs 1,119 per share, with the IPO scheduled to open on October 21 and close on October 23.

The offering has seen significant institutional interest, with Arabian Business reporting over $25bn in demand. The Indian Express states that demand for the Rs 8,110-crore anchor book exceeded 30 times the amount on offer, while aggregate institutional demand reached nearly Rs 2.5 lakh crore.

Investors showing interest include asset managers such as BlackRock, Fidelity Investments, Capital Group, T Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco, and Janus Henderson, according to The Indian Express. Sovereign wealth funds interested in the IPO include the Abu Dhabi Investment Authority, Qatar Investment Authority, Singapore’s GIC, and Norway’s Norges Bank Investment Management.

Brief written by urgent.news from Arabian Business, The Indian Express — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.