A Jio Platforms Ltd. logo at a news conference ahead of the company’s listing ceremony at Reliance Corporate Park in Mumbai, India, Thursday, Oct. 15, 2026. <\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
India’s Jio Platforms has seen the anchor investor quota for its initial public offering oversubscribed more than 30 times, according to a source familiar with the matter, drawing bids from top asset<\/a> managers including BlackRock, Capital Group and GIC. <\/p>\n The country’s largest telecommunications and digital services company, backed by Meta and Google, plans to raise up to 302 billion rupees ($3.2 billion) through India’s largest ever IPO in rupee terms<\/a>.<\/p>\n According to the source, who is not allowed to speak on the matter due to legal restrictions, the company’s anchor book received total bids worth 2.5 trillion rupees ($26.3 billion) for the 81.1 billion rupee anchor book portion.<\/p>\n Jio Platforms, in a release on Monday, said it had finalized the allocation of 72.47 million equity shares to anchor investors at 1,119 rupees a share, at the upper range of the price<\/a> band. <\/p>\n The anchor book is a portion of the total fundraise set aside for large institutional investors before the IPO opens for public bidding. <\/p>\n Some other major institutional investors who have been allocated shares include India’s state-owned insurance firm Life Insurance Corporation<\/a>, Fidelity Investments, JPMorgan Asset Management and Abu Dhabi Investment Authority.<\/p>\n The Jio Platforms IPO will be open to the public from Wednesday through Friday. Jio Platforms, owned by Reliance Industries<\/a>, has been positioning itself as a tech company and not just a traditional utility provider<\/a>. The IPO price values the company at around $108 billion \u2014 lower than the valuations of over $130 billion floated a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"A Jio Platforms Ltd. logo at a news conference ahead of the company’s listing ceremony at Reliance Corporate…\n","protected":false},"author":2,"featured_media":939693,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[26743,4989,27268,45,161,49,48,1799,244,164,39012,15850,186889,1243],"class_list":["post-939692","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alphabet-class-a","tag-asia-economy","tag-blackrock-inc","tag-business","tag-business-news","tag-ca","tag-canada","tag-india","tag-internet","tag-ipo","tag-life-insurance-corporation-of-india","tag-meta-platforms-inc","tag-reliance-industries-ltd","tag-telecommunications"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/939692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=939692"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/939692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/939693"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=939692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=939692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=939692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}