The IPO of Jio Platforms Limited is open today, 19 October, for anchor investors, or large institutional investors. Its anchor book has already received more than 30 times the subscription. Shares worth ₹8,110 crore have been reserved for anchor investors in the IPO. Against this, anchor investors have placed bids worth around ₹2.5 lakh crore. This is the largest institutional bid ever placed for an Indian IPO. The anchor book includes the world’s largest asset managers, sovereign wealth funds, leading mutual funds in India, insurance companies and pension funds. Top 10 mutual fund houses in the country invest Indian institutional investors in the anchor book include the country’s top 10 mutual fund houses, with SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund among the prominent names. The country’s largest insurance companies and pension funds have participated in the anchor book. These include major names such as Life Insurance Corporation of India (LIC), HDFC Life, SBI Life, SBI Pension, HDFC Pension and ICICI Prudential. In addition, technology-focused global funds and large family offices have also shown interest in investing in it. Foreign long-only funds show the highest demand Most of the demand in Jio’s anchor book came from foreign long-only funds, sovereign wealth funds and pension funds. This indicates that the anchor book has attracted institutional capital committed to long-term investment. Almost every major fund investing in India is participating in the issue, with no leading fund staying away from it. IPO to open for retail investors on 21 October Reliance Industries Limited’s digital services company, Jio Platforms, will open the country’s biggest IPO for retail investors from 21 to 23 October. The company will raise ₹30,188 crore through the issue. The company will issue 27 crore shares in the IPO. The price band has been set at ₹1,065 to ₹1,119 per share. Meanwhile, Jio’s grey market premium, or GMP, is currently above ₹250. Its market capitalisation could reach ₹10.30 lakh crore after listing. ₹3,000 crore reserved for employees and shareholders in IPO Issue breakdown: How much has been reserved for each category It will be the country’s largest IPO to date Jio Platforms will be the country’s largest IPO to date. The company will raise approximately ₹30,200 crore through it. Before this, Hyundai Motor India’s ₹27,858 crore IPO in 2024 was the country’s largest IPO. Who will benefit from the shareholder reservation? Eligible Reliance shareholders include individuals and Hindu Undivided Families (HUFs) who held public equity shares of Reliance Industries as of 14 October, the date on which the company filed its Red Herring Prospectus (RHP). This concession will be subject to the applicable eligibility criteria and regulatory rules. 27 crore fresh shares to be issued through IPO According to the RHP, the company will issue up to 27.5 crore fresh shares with a face value of ₹10 each through the IPO. Jio Platforms includes Reliance Jio’s telecom and digital services business. Company filed RHP on 14 October The company filed its Red Herring Prospectus (RHP) for the IPO on 14 October. The RHP was filed with the Registrar of Companies (RoC) in Ahmedabad, Gujarat. Earlier, the company had submitted its Draft Red Herring Prospectus (DRHP) on 19 June. It received approval from SEBI for the IPO on 28 August. Jio is the country’s largest telecom operator Jio Platforms is currently the country’s largest telecom operator. As of 30 June, the company had a total subscriber base of 53.3 crore. Of these, 28.49 crore are 5G users, making it the world’s third-largest 5G customer base. Jio Platforms is Reliance’s technology company, headquartered in Mumbai. What is an anchor book? An anchor book is a portion reserved for institutional investors such as large mutual funds, foreign investors, and insurance companies before any major IPO opens to the public. Allotting shares to anchor investors helps build confidence in the IPO and creates a positive market environment. What is a red herring prospectus (RHP)? This is an official document that a company submits to SEBI and the Registrar of Companies (RoC) before launching an IPO. It contains complete details of the company’s business, financial condition, promoters, and risk factors. Instead of the final share price (issue price) or price band and the number of shares, it contains an estimated range, which is determined later. Post navigation Musk to give every child in America a SpaceX share:7.2 crore children in the country, scheme estimated to cost ₹1 lakh crore
