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The IPO, the largest in India’s primary market, will remain open for public subscription until October 23. The company has fixed the price band at Rs 1,065-1,119 per share.
Jio Platforms IPO.
Jio Platforms IPO: Jio Platforms has raised Rs 8,109.84 crore from 212 anchor investors on October 19, securing strong institutional participation ahead of the opening of its Rs 30,187.6-crore initial public offering (IPO) on October 21. The anchor book includes prominent global asset managers such as BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Prudential.
The IPO, the largest in India’s primary market, will remain open for public subscription until October 23. The company has fixed the price band at Rs 1,065-1,119 per share.
Jio Platforms has allotted 7.24 crore equity shares to anchor investors at the upper end of the price band. The anchor book has attracted interest from global asset management firms, sovereign wealth funds, domestic mutual funds, insurers, pension funds and family offices.
Aggregate institutional demand for the anchor book had touched nearly Rs 2.5 lakh crore, making it the first Indian IPO to attract demand of this magnitude.
Jio Platforms IPO: Issue Size, Structure And Employee Discount
The IPO comprises a fresh issue of 27 crore equity shares, representing 2.9% of the company’s post-issue equity capital. The offer includes a reservation of shares worth Rs 500 crore for employees and Rs 2,500 crore for eligible shareholders of parent company Reliance Industries.
Eligible employees will be offered shares at a discount of Rs 54 per share to the final offer price.
Jio Platforms plans to utilise Rs 27,500 crore of the net IPO proceeds to repay a portion of the debt availed by its material subsidiary, Reliance Jio Infocomm. The remaining proceeds will be used for general corporate purposes.
Global Investors, Sovereign Wealth Funds Show Interest
The anchor book has drawn participation from some of the world’s leading sovereign wealth funds and institutional investors. These include Singapore’s GIC, Norges Bank Investment Management, Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA), PSP Investments, California State Teachers’ Retirement System and Florida Retirement System.
Global technology-focused and investment firms, including Dragoneer Investment Group, Janus Henderson and Ninety One, have also participated in the anchor book.
The participation of these investors adds to the institutional interest surrounding the offering, which provides exposure to India’s telecom and digital services market through Jio Platforms.
Domestic Mutual Funds, Insurers Join Anchor Book
Domestic institutional participation has also been significant, with all of India’s top 10 mutual fund houses showing interest in the offering. These include 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.
In its filing, Jio Platforms said, “Of this total allocation, 2.48 crore equity shares worth Rs 2,784.96 crore were issued to 25 domestic mutual funds which have applied through their 95 schemes.”
The country’s leading insurers and pension funds have also participated in the anchor book. These include Life Insurance Corporation of India (LIC), HDFC Life, SBI Life, SBI Pension (NPS Trust), HDFC Pension, ICICI Prudential and UTI Pension, among others.
These investors were allotted 97.4 lakh shares worth Rs 1,089.95 crore.
Indian family offices, including Enam Family Office, Premji Invest, Zerodha Family Office and HCL Family Office, have also shown interest in the offering.
Jio Platforms IPO: Business, Revenue And Profit
Jio Platforms is the technology platform that houses Reliance Industries’ digital businesses, with Reliance Jio Infocomm serving as its principal operating subsidiary. Its investor base also includes global companies and investment firms such as Meta, Google, KKR, Silver Lake, General Atlantic Singapore, ADIA and TPG.
Reliance Jio Infocomm, which provides mobile connectivity, fixed broadband and digital services, had 53.33 crore customers in India as of June 2026.
The telecom operator reported a 6.8% year-on-year increase in net profit to Rs 7,166.9 crore in the April-June 2026 quarter. Revenue rose 10.8% to Rs 34,212.1 crore during the period.
At the consolidated platform level, Jio Platforms reported a 9.1% year-on-year increase in profit to Rs 7,765 crore for the quarter ended June 2026, compared with Rs 7,114.7 crore in the corresponding period of the previous fiscal year.
Revenue increased 11.8% to Rs 39,172.9 crore from Rs 35,032.3 crore a year earlier.
The financial performance highlights the scale of Jio Platforms’ digital and connectivity operations as the company prepares to enter the public markets.
Jio Platforms IPO: Merchant Bankers
The IPO is being managed by a large syndicate of merchant bankers, including Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, Axis Capital, BNP Paribas, Citigroup Global Markets India, CLSA India, DAM Capital Advisors, Goldman Sachs (India) Securities, HDFC Bank, HSBC Securities and Capital Markets (India), ICICI Securities, IIFL Capital Services, Jefferies India, JM Financial, JP Morgan India, SBI Capital Markets, UBS Securities India and 360 ONE WAM.
With the public issue scheduled to open on October 21, the anchor allocation marks a key step in Jio Platforms’ IPO process, bringing together global institutional investors and major domestic financial institutions ahead of the subscription period.
Disclaimer: News18 is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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Ask News18Jio Platforms has fixed its IPO price band at Rs 1,065-1,119 per share, aiming to raise approximately Rs 30,187.6 crore (or around Rs 30,213 crore). The public subscription opens on October 21 and closes on October 23, 2026.
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