Stories
Jio Platforms Raises Rs 8,110 Crore From Anchor Investors Ahead Of IPO
- •Jio Platforms has raised Rs 8,109.84 crore from 212 anchor investors ahead of its highly anticipated IPO opening on October 21.
- •The IPO price band has been fixed between Rs 1,065 and Rs 1,119 per share, with the subscription window remaining open until October 23.
- •Prominent international firms like BlackRock, Fidelity Investments, and JPMorgan participated in the anchor book, alongside major sovereign wealth funds.
- •A portion of the net proceeds amounting to Rs 27,500 crore will be utilized to repay loans taken by Reliance Jio Infocomm.
Key Questions Answered
Jio Platforms has fixed its IPO price band at Rs 1,065 to Rs 1,119 per share. The public issue, which runs from October 21 to October 23, aims to raise approximately Rs 30,213 crore through the issuance of 27 crore fresh equity shares, marking it as the largest IPO in the Indian primary market.
Ahead of its public subscription, Jio Platforms raised Rs 8,109.84 crore from 212 anchor investors on Monday, October 19, allocating 7.24 crore equity shares at Rs 1,119 each. The anchor book attracted massive institutional demand with bids worth approximately Rs 2.5 lakh crore.
Out of the net proceeds from the IPO, Rs 27,500 crore is earmarked to repay a portion of the loans taken by Reliance Jio Infocomm. The remaining funds will be allocated toward general corporate purposes.
