Jio Platforms, the Reliance Industries subsidiary, raised ₹8,109.85 crore from 212 anchor investors on 19 October 2026, ahead of its initial public offering (IPO). Reports say institutional demand for the anchor portion exceeded ₹2.5 lakh crore, more than 30 times what was on offer.
What happened
According to an exchange filing reported by Business Today and PTI, the company allotted 7,24,74,066 equity shares at ₹1,119 each. That is the top of the price band. An anchor investor is a large institution that is given shares before the public issue opens, which helps set the tone for the offer.
Of the 212 anchors, 25 were domestic mutual fund houses, 22 were life insurers and pension funds, and 85 were global funds, Business Today reported. The mutual funds invested through 95 schemes. LIC received an allocation worth ₹500 crore.
Among the overseas investors named in the reports are government-linked funds from Singapore and Abu Dhabi, Norway’s Norges Bank Investment Management, and asset managers such as BlackRock, Fidelity, Capital Group and T. Rowe Price.
Business Today, citing banking sources, said it was reportedly the first time an Indian IPO had drawn institutional demand above ₹2.5 lakh crore. It also described the offer as India’s largest IPO.
Issue details
- Price band: ₹1,065-1,119 per share.
- Minimum bid: 12 shares, and multiples of 12 after that.
- Issue size: a fresh issue of 27 crore shares, with no offer for sale (existing shareholders selling).
- Dates: opens Wednesday, 21 October, after a market holiday on 20 October, and closes Friday, 23 October.
- Listing: scheduled on the NSE and BSE on Wednesday, 28 October.
- Registrar: KFin Technologies.
Business Today also reported a grey market premium of ₹250-255 per share. The grey market premium is an unofficial indicator and does not guarantee how the shares will list.
What it means for you
Strong anchor demand shows how institutions responded to the offer, but it does not decide how the stock will trade after listing. Retail applicants bid in lots of at least 12 shares, so a minimum application at the top of the band works out to 12 × ₹1,119 = ₹13,428.
If you want to understand the mechanics, see our guide on how an IPO works and the explainer on the price band. Our earlier report covers Reliance’s outreach to staff as the issue opens.
Background
Anchor allotments are made a day before an IPO opens to the public. Mutual funds in the book invest money from many small savers, so some readers may hold Jio shares indirectly through their mutual fund schemes.
