Jio Platforms Secures ₹8,110 Crore from 212 Anchor Investors Ahead of IPO
Jio Platforms has raised ₹8,110 crore from prominent global investors as it prepares for its upcoming IPO, set to open on October 21.
Jio Platforms attracted ₹8,110 crore from 212 anchor investors, including major firms like BlackRock and Fidelity.
The IPO, valued at ₹30,188 crore, will open for public subscription on October 21 and close on October 23.
The offering includes a fresh issue of 27 crore equity shares, with discounts for employees and eligible shareholders.
On October 19, Jio Platforms successfully raised ₹8,110 crore from 212 anchor investors, featuring renowned global names such as BlackRock, Capital Group, and Fidelity Investments. This fundraising comes ahead of its highly anticipated initial public offering (IPO), which is scheduled to open for public subscription on October 21 and close on October 23.
The IPO, which is set to be the largest in India, is valued at ₹30,188 crore. The price range for the shares has been established between ₹1,065 and ₹1,119 each. The offering will consist of a fresh issue of 27 crore equity shares, accounting for 2.9% of the company's post-issue equity capital. Notably, there is a reservation of shares worth ₹500 crore for Jio Platforms employees and ₹2,500 crore for eligible shareholders of its parent company, Reliance Industries.
Jio Platforms has allocated 7.24 crore equity shares to anchor investors at the upper end of the price band. The demand for this IPO is unprecedented, with institutional interest surpassing ₹2.5 lakh crore, making it the first Indian IPO to garner such significant demand. This interest includes participation from some of the world's largest asset managers and sovereign wealth funds, highlighting the strong institutional appetite for the telecom and digital services sector.
In addition to global investors, domestic participation is robust, with all top 10 mutual fund houses in India expressing interest in the offering. Major players include SBI Mutual Fund and ICICI Prudential Mutual Fund, among others. The country's leading insurers and pension funds, such as LIC and HDFC Life, are also part of the investor pool, collectively acquiring shares worth ₹1,089.95 crore.
The proceeds from the IPO will primarily be used to repay a portion of the debt incurred by Reliance Jio Infocomm, a subsidiary of Jio Platforms. The remaining funds will be allocated for general corporate purposes. As of June 2026, Reliance Jio Infocomm serves over 533 million customers in India, contributing significantly to Jio Platforms' revenue growth, which has seen a year-on-year profit increase of 9.1% in the last quarter.
