Jio Platforms’ upcoming IPO has reportedly attracted nearly ₹2.5 lakh crore in commitments, reflecting strong interest from major global and domestic institutional investors ahead of the public issue.
Global investors, including sovereign wealth funds and prominent asset managers such as Allianz and BlackRock, have reportedly expressed interest in participating in the anchor book of the ₹30,188-crore offering. The IPO is expected to be the largest in India’s history.
Domestic institutions, including the Life Insurance Corporation of India (LIC), SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Kotak Mahindra Mutual Fund, are also among the prospective investors, according to media reports.
Other investors reportedly interested in the anchor allocation include the Government of Singapore Investment Corporation (GIC), Fidelity, Norway’s Government Pension Fund Global, New World Fund Inc and Smallcap World Fund Inc.
Jio Platforms IPO GMP today
Jio Platforms IPO GMP today, or grey market premium, is +235. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jio Platforms share price was indicated at ₹1,354 apiece, which is 21% higher than the IPO price of ₹1,119.
In the past 15 sessions, the IPO GMP has fluctuated by ₹87, shifting between levels without establishing a clear trend. The most recent GMP is ₹235, indicating a shift in grey market expectations, as noted by analysts.
Jio Platforms IPO details
Jio Platforms IPO price band has been fixed at ₹1,065– ₹1,119 per share, with investors required to bid for a minimum of 12 shares and in multiples of 12 thereafter. Eligible employees applying under the reserved category will be entitled to a ₹54 per share discount.
The public issue will open for subscription on 21 October and close on 23 October, while the anchor investor bidding window is scheduled for 19 October. The offering will comprise a fresh issue of up to 27 crore equity shares, with no offer-for-sale (OFS) component.
The company has earmarked up to ₹2,500 crore in shares for eligible Reliance Industries shareholders and up to ₹500 crore for eligible employees, bringing the combined reservation to ₹3,000 crore.
Individuals and Hindu Undivided Families holding publicly listed Reliance Industries shares as of 14 October can apply under the shareholder quota, subject to the eligibility criteria outlined in the prospectus and applicable regulations. The employee quota is available to eligible Jio Platforms employees.
Jio Platforms intends to use part of the IPO proceeds to prepay up to ₹27,500 crore of borrowings at its operating subsidiary, Reliance Jio Infocomm. The balance will be allocated towards general corporate purposes.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of the expert, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
