Jio Platforms secures nearly ₹2.5 lakh crore in commitments ahead of record‑size IPO

Jio Platforms has attracted nearly ₹2.5 lakh crore in commitments from investors ahead of its ₹30,188‑crore IPO, which will be the biggest public offering in India. Global investors such as sovereign wealth funds, Allianz and BlackRock have signalled interest in the anchor book, while domestic institutions including LIC, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Kotak Mahindra Mutual Fund are also lining up. Additional anchor‑allocation hopefuls mentioned are GIC, Fidelity, Norway’s Government Pension Fund Global, New World Fund Inc and Smallcap World Fund Inc. The IPO price band is set at ₹1,065‑₹1,119 per share, with a minimum bid of 12 shares and subsequent multiples of 12. Employees applying under the reserved category receive a ₹54 per share discount. Grey‑market premium (GMP) today stands at +₹235, pushing the implied listing price to about ₹1,354 – roughly 21 % above the top of the price band. Over the past 15 sessions the GMP has moved within a ₹87 range without a clear trend. The public issue opens on 21 October, closes on 23 October, and the anchor‑investor window runs on 19 October. The offering will consist of up to 27 crore fresh equity shares with no offer‑for‑sale component. Up to ₹2,500 crore of shares are earmarked for eligible Reliance Industries shareholders and ₹500 crore for eligible employees, totaling a ₹3,000 crore reservation. Existing Reliance shareholders and Hindu Undivided Families holding listed Reliance shares as of 14 October may apply under the shareholder quota, while Jio employees can apply under the employee quota. Proceeds will be used to pre‑pay up to ₹27,500 crore of borrowings at Reliance Jio Infocomm and the remainder for general corporate purposes.

Context

In India, the grey‑market premium reflects how investors value an IPO before the official listing, often hinting at demand that can affect the final listing price. Large institutional commitments signal confidence in the company's growth prospects and can help stabilise the share price after debut.