The Jio Platforms anchor book of ₹8,110 crore has reportedly drawn bids worth nearly ₹2.5 lakh crore, more than 30 times the amount on offer. According to a Fortune India report citing Moneycontrol, the demand came from global funds, Indian mutual funds, insurers and pension funds. The ₹30,213 crore IPO opens for everyone on 21 October.
What has been reported about the anchor book?
Anchor investors are large institutions that are allotted shares a day before the public issue opens. Bids of about ₹2.5 lakh crore against ₹8,110 crore on offer works out to a little over 30 times. The anchor portion is about 27% of the total issue (8,110 divided by 30,213).
The report named these groups among the investors:
- Global asset managers: BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Janus Henderson.
- Indian mutual funds: all of the country's top 10 fund houses, including SBI, ICICI Prudential, HDFC, Aditya Birla Sun Life, Nippon India and Kotak.
- Insurers and pension funds: LIC, HDFC Life, SBI Life, SBI Pension, HDFC Pension and ICICI Prudential.
Anchor shares come with a lock-in. The investors cannot sell them for a set period after allotment, which keeps part of the issue out of early trading. The exact lock-in dates will follow the allotment disclosure.
These are bids, not final allotments. The final list of anchors and the amount each received will be known once the allotment is disclosed. We will update this page when the exchange filing is out.
The deal as it stands
| Item | Detail |
|---|---|
| Price band | ₹1,065 to ₹1,119 a share |
| Issue size | ₹30,213 crore, fresh issue |
| Opens and closes | 21 October to 23 October |
| Allotment | 26 October |
| Listing | 28 October, BSE and NSE |
| Registrar | KFin Technologies |
What our data shows
Our tracker had the grey market premium at ₹251 on 19 October, or 22.43% over the upper band. It was ₹206 on 14 October, so it has risen across the week. The premium is an unofficial dealer quote and does not guarantee anything about the listing. Anchor demand and grey market sentiment are separate signals, and neither is a promise about price.
What happens next
Public bidding starts on 21 October. Track live bids on our Jio Platforms subscription page. For the grey market history, read our earlier post on the GMP climbing to ₹250. The original report is on Fortune India.
