Jio allotted over 7.2 Cr shares to anchor investors at ₹1,119 apiece, raising ₹8,109.8 Cr
More than a third of the round was picked up by 25 domestic mutual funds while a further 13.4% was subscribed by insurance companies and pension funds
The IPO, comprising a fresh issue of up to 27 Cr equity shares, will open for public subscription on October 21 and close on October 23
Ahead of the commencement of the bidding for its public issue on Wednesday, October 19, Jio Platforms has raised ₹8,109.8 Cr from anchor investors.
The company allotted 7,24,74,066 equity shares to anchor investors at a price of ₹1,119 per share, the upper band of its price spectrum.
Around 2.48 Cr shares, more than a third of the overall, were picked up by 25 domestic mutual funds via a total of 95 schemes. The domestic mutual funds that anchored the round included HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mahindra Mutual Fund, among others.
Besides, 97 Lakh shares or around 13.4% of the anchor round were picked up by insurance companies and pension funds including Life Insurance Corporation of India, HDFC Life Insurance, SBI Life Insurance, and ICICI Prudential Life Insurance.
Global investors such as BNP Paribas Financial Markets, BlackRock, Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs also participated in the round.
Jio is seeking to raise ₹30,213 Cr at the upper end of the price band, making it potentially India’s largest public offering to date. This pricing would imply a valuation of ₹10.3 Lakh Cr.
The IPO, comprising a fresh issue of up to 27 Cr equity shares, will open for public subscription on October 21 and close on October 23.
(This story will be updated shortly)