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Jio Platforms IPO Opens October 21 Institutional Bids Reach $25 Billion

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Jio Platforms' ₹30,213-crore IPO opens October 21. Institutional investors placed about $25 billion in bids for the anchor allocation.

By News National Editorial Team

MUMBAI: Jio Platforms Ltd, the digital services and telecommunications business backed by Reliance Industries, is preparing to launch its initial public offering (IPO) on October 21, 2026, in what is expected to be India's largest public share offering to date.

The company has attracted approximately $25 billion in bids from institutional investors for the portion reserved for anchor investors, according to sources cited by Reuters on October 19. The demand was nearly 30 times the allocation available to these investors, signalling substantial institutional interest ahead of the public subscription period.

IPO Details: Price Band, Issue Size and Dates

Jio Platforms has set a price band of ₹1,065 to ₹1,119 per share. The issue is expected to raise approximately ₹30,213 crore through the issuance of up to 27 crore new equity shares.

The public offering is scheduled to open on Wednesday, October 21, and close on Friday, October 23. The shares are tentatively scheduled to list on the BSE and NSE on October 28, subject to the issue timetable and applicable procedures.

The IPO is structured as a fresh issue of shares, with proceeds intended primarily to repay or prepay borrowings of Reliance Jio Infocomm, the group's telecommunications subsidiary.

Global Institutions Participate in Anchor Bidding

Institutional investors, including Singapore's GIC, BlackRock, Fidelity and the Abu Dhabi Investment Authority, participated in the anchor investor process, Reuters reported.

Anchor investors are institutional investors who receive an allocation before the public subscription period. Their participation can provide an indication of institutional interest, but it does not guarantee the performance of the shares after listing.

The reported $25 billion represents bids for the anchor investor allocation, not money raised by the entire IPO. The final subscription figures across retail, non-institutional and institutional categories will become clearer after the public issue opens.

Jio's Telecom and Digital Business

Jio Platforms operates the digital and technology businesses associated with Reliance Jio. Its activities extend beyond mobile connectivity into enterprise services, cloud computing and artificial intelligence.

The company has more than 500 million subscribers, according to Reuters. Its scale in India's telecommunications market and its plans to expand digital services are among the factors attracting investor attention.

The proposed offering could value Jio Platforms at approximately $108.3 billion, based on the prospectus figures reported by Reuters. If completed at the expected scale, the IPO would represent a major development in India's capital markets.

What Investors Should Consider

Investors should review the company's offer documents, financial statements, business risks, debt obligations and valuation before deciding whether to apply.

Heavy anchor investor demand does not guarantee listing gains. Share prices after listing can be affected by market conditions, company performance, valuations and broader economic developments.

The IPO will be closely watched by retail investors and market participants because of its size and the importance of Jio to India's digital economy.

Sources

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