Jio Platforms' IPO Anchor Book Oversubscribed Over 30 Times with Bids Exceeding $26 Billion
Jio Platforms, India's largest telecom and digital services company backed by Meta and Google, has seen its anchor book for the upcoming initial public offering (IPO) oversubscribed over 30 times. Institutional investors including BlackRock, GIC, Capital Group, Fidelity Investments, JPMorgan Asset Management, and Abu Dhabi Investment Authority submitted bids totaling $26.3 billion for a portion of the IPO valued at around $854 million. The company plans to raise up to 302 billion rupees ($3.2 billion) through what is expected to be India's largest-ever IPO in rupee terms. Jio Platforms has allocated shares to anchor investors at ₹1,119 per share — the upper end of its price band — and will open public bidding from Wednesday to Friday. The IPO values Jio Platforms at approximately $108 billion, a slight reduction from earlier valuations exceeding $130 billion. The company is positioning itself as a tech firm rather than just a traditional utility provider.
Topics: anchor book investors IPO Jio Platforms