Mumbai: Jio Platforms, the digital services and telecommunications arm of Reliance Industries, has raised approximately ₹8,110 crore from 212 anchor investors ahead of its initial public offering (IPO), drawing participation from major domestic institutions and global investment firms.

The company mobilised ₹8,109.85 crore on October 19, 2026, through the allocation of shares to institutional investors before the public issue opens. The anchor book attracted bids worth more than ₹2.5 lakh crore, exceeding 30 times the amount available for allocation

The development marks an important stage in Jio Platforms’ planned stock market debut, which is expected to be one of India’s largest-ever IPOs. The company is scheduled to open its public issue on October 21 and close it on October 23.

LIC receives the largest anchor allocation

The Life Insurance Corporation of India (LIC) received the largest allocation among anchor investors, with shares worth ₹499.98 crore. This accounted for approximately 6.17% of the total anchor book.

New World Fund Inc. received an allocation worth ₹486.27 crore, while the Government of Singapore was allotted shares worth ₹340.93 crore. SBI Focused Fund received shares worth ₹315 crore, and BNP Paribas Financial Markets – ODI was allocated shares worth ₹303.25 crore.

Other prominent participants included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Birla Mutual Fund, Kotak Mutual Fund, Nippon India Mutual Fund and UTI Pension.

The anchor investor list also featured major international asset managers and financial institutions, including BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Janus Henderson.

Sovereign wealth funds and public institutions participating in the offering included the Abu Dhabi Investment Authority, the Monetary Authority of Singapore, GIC, Qatar Investment Authority and Norway’s sovereign wealth fund.

The participation of these investors highlights the range of institutions involved before the IPO’s public subscription period begins. However, anchor allocations alone do not determine how the shares will perform after listing.

Mutual funds account for more than a third of the anchor book

Domestic mutual funds received 2.489 crore shares worth ₹2,784.96 crore, representing 34.34% of the anchor allocation. The shares were distributed across 95 schemes managed by 25 fund houses.

Life insurance companies and pension funds were allotted 97.4 lakh shares worth ₹1,089.95 crore, accounting for 13.44% of the anchor book. Both categories received allocations above the minimum proportions set aside for them in the offer documents.

The allocation reflects participation from a mix of institutional investors with different investment mandates, including mutual funds, insurers, pension institutions and overseas asset managers.

Anchor investors are institutional investors who are allocated shares shortly before an IPO opens to other investors. Their participation can provide an early indication of institutional interest in an offering, although it does not guarantee gains for investors who buy shares later.

Jio Platforms IPO: Price band and issue details

Jio Platforms has set its IPO price band at ₹1,065 to ₹1,119 per share. The anchor shares were allotted at ₹1,119, the upper end of this range.

The public issue is expected to raise around ₹30,188 crore through a fresh issue of up to 27 crore equity shares, according to the figures reported by NDTV Profit and other financial publications.

The offer also includes reservations for eligible shareholders of Reliance Industries and for employees. The offer documents provide for a ₹2,500-crore reservation for eligible Reliance Industries shareholders and a ₹500-crore employee reservation. Eligible employees are to receive shares at a discount of ₹54 per share to the final offer price.The IPO is expected to give public market investors an opportunity to invest directly in Jio Platforms, which has so far operated as a subsidiary of Reliance Industries.

How the IPO proceeds will be used

A portion of the proceeds from the fresh issue is intended to be used to repay or prepay borrowings at Reliance Jio Infocomm, Jio Platforms’ telecommunications subsidiary. The remaining proceeds are earmarked for general corporate purposes.

Debt reduction could help the group manage its financing obligations as it continues to invest in telecommunications infrastructure and digital services. The precise financial impact will depend on the final allocation and use of the proceeds after the issue.

Reliance Industries, led by Mukesh Ambani, is expected to retain a majority stake in Jio Platforms following the listing.

Jio’s expanding digital business

Jio Platforms has grown beyond mobile connectivity into a broader digital services business that includes broadband, digital entertainment, cloud services and enterprise solutions.

According to reported company figures, the business had 533.3 million subscribers as of June 2026. Its scale in mobile connectivity and data consumption forms a key part of Reliance Industries’ wider digital strategy. The listing will allow public market investors to assess Jio Platforms as a separate investment, with greater visibility into its financial performance, growth opportunities and capital requirements.

Its future performance will depend on factors such as subscriber growth, revenue per user, competition, network investment and the expansion of newer digital services. Strong demand in the anchor book is one element of the IPO process, rather than a guarantee of future returns.

Public subscription opens on October 21

With the anchor allocation completed, attention now turns to the public subscription period scheduled for October 21–23, 2026.

The scale of institutional demand has placed Jio Platforms’ offering in focus ahead of its market debut. Investors considering the issue should review the company’s offer documents, financial disclosures, valuation and risk factors before making a decision.

The anchor book provides an early snapshot of institutional participation, while the public subscription and subsequent listing will offer further information about market demand for Jio Platforms’ shares.