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Jio Platforms Limiteds Rs 8,110-crore anchor book has attracted aggregate institutional demand of over Rs 2.5 lakh crore, marking the first time an Indian initial public offering (IPO) has crossed this milestone.
The anchor book received demand of more than 30 times the amount on offer, reflecting strong interest from domestic and global institutional investors, including leading asset managers, sovereign wealth funds, pension funds, global technology-focused investors and prominent Indian family offices. The breadth of participation is reflected in more than 200 investor lines, highlighting the depth of commitment across fund houses and their individual investment schemes. The anchor allocation features some of the most prominent names in global and Indian asset management, including BlackRock, Capital Group, Fidelity Management & Research, Schroders, JPMorgan Asset Management, T. Rowe Price, Prudential and Allianz. Leading domestic mutual funds, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund and Nippon India Mutual Fund, also feature among the investors. The participation of global technology-focused and specialist investment firms, including Dragoneer, Janus Henderson and Ninety One, further underscores the diverse institutional interest in the offering. The anchor book has also attracted long-term capital from sovereign and pension investors, including the Life Insurance Corporation of India (LIC), GIC, Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA), Norges Bank Investment Management, PSP Investments, California State Teachers Retirement System and the Florida Retirement System. Domestic retirement and pension institutions, including SBI Pension under the NPS Trust, HDFC Pension, ICICI Prudential Pension and UTI Pension, are also among the participants, highlighting the presence of investors with long-term investment horizons. Prominent Indian family offices, including Enam, Premji, Zerodha and HCL, have also participated in the anchor allocation, adding to the diversity of the investor base. Fidelity Contrafund, one of the prominent actively managed global equity funds, is also among the notable investors in the anchor book. The scale of institutional demand, alongside participation from leading global asset managers, domestic mutual funds, sovereign wealth funds, pension institutions and family offices, makes the anchor book a significant feature of Jio Platforms proposed public offering. The anchor allocation was made at Rs 1,119 per equity share, according to the company's filing to the stock exchanges. (ANI)
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