Mutual funds got nearly 34% of Jio Platforms IPO anchor book allocation: Which schemes will own Jio shares? Expert views

Reliance Industries-backed Reliance Jio Platforms IPO is now open for subscription from 21 October 2026, allowing investors to bid for shares of the telecom major. However, before an IPO opens for public subscription, companies complete the anchor book allocation process.

According to the basis of allotment dated 19 October 2026, Jio Platforms finalised the allocation of around 7.25 crore equity shares to anchor investors at an anchor investor allocation price of ₹1,119 per equity share.

Of the 7.25 crore equity shares allocated to anchor investors, 2.49 crore shares (34.34% of the total anchor allocation) were allotted to 25 domestic mutual funds through 95 schemes. Here are the details of the top 10 mutual fund schemes that received the highest allocations and what investors need to consider.

*Source: Jio Platforms IPO Anchor Allocation Report; Total 11 funds with more than 1% allocation; Anchor investor allocation price is ₹1,119; Issue Price of the IPO is ₹1065 to ₹1119.

Among the top mutual fund schemes of the Jio Platforms IPO anchor book, SBI Focused Fund received the highest allocation of ₹315 crore. HDFC Flexi Cap Fund and HDFC Large Cap Fund followed with allocations of ₹132.43 crore and ₹126.33 crore, respectively.

“Every scheme that got an allotment will hold Jio shares on listing day. Only the anchor portion is fixed, and only for a limited time,” said Gaurav Garg, Head of Research at Lemonn.

He explained how the process works:

• Allocation: Anchor shares were allocated on 19 October at ₹1,119.
• Allotment and listing: After the issue closes on 23 October, the shares are allotted and credited to each scheme’s demat account. Listing is expected on 28 October.
• Valuation: The shares are valued at cost until listing and at market price after that. From then on, Jio’s daily price shows up in the scheme’s NAV.
• Lock-in: Half of the anchor shares will be locked in for 30 days from the date of allotment, while the remaining half will be locked in for 90 days. During these periods, the fund cannot sell the locked-in shares or transfer them to another scheme.

Garg said that once the lock-in periods end, fund managers will be free to decide whether to retain, sell or add to their holdings. They can buy more shares from listing day and trim or exit their positions as each tranche becomes eligible for sale.

Jio shares should first appear in the mutual funds’ October month-end portfolio disclosures, expected around 10 November. However, these disclosures will not distinguish between shares acquired through the anchor allocation and those purchased in the market, he added.

Garg explained that the impact on scheme returns is likely to be negligible:

• HDFC Flexi Cap Fund: Its ₹132 crore allocation amounts to about 0.12% of its ₹1.09 lakh crore assets under management (AUM) as of 30 September 2026. Even a 20% gain in Jio’s listing price would add only about 0.02% to the scheme’s NAV.
• HDFC Large Cap Fund: Jio accounts for about 0.34% of the fund. Its 4.76% holding in parent company Reliance Industries is more significant, as Jio’s listing could influence how the market values Reliance Industries.

Garg said that the funds have pre-booked a small slice of Jio Platforms at the IPO price, using cash it already had. Unitholders pay nothing extra, and no new units are created; the scheme simply swaps some cash for shares.

The 34% figure reflects a rule more than a vote of confidence. SEBI reserves a third of the anchor portion for domestic mutual funds. Demand was far higher than the book, so funds were rationed, and HDFC, ICICI Prudential and SBI MF got ₹425 crore each. From listing day, that slice will move with Jio’s share price, up or down.

“Investors should not buy or switch into a scheme because of its Jio allotment. The October portfolio is a snapshot, not a long-term commitment,” he suggested.

Sheetal Goel is a Content Producer at Livemint, where she covers corporate developments, personal finance, business trends, markets, and SEBI-related updates. She focuses on simplifying complex financial concepts and presenting them in a clear, reader-friendly manner, thereby helping audiences better understand investment trends, personal finance, and market developments. Her writing focuses on making finance more accessible to everyday readers while maintaining clarity, accuracy, and relevance. <br><br> She holds a degree in Economics (Hons.) along with an MBA in Finance, which has helped her develop a strong foundation in financial analysis, market understanding, and business reporting. Before joining journalism, she worked with finance and broking firms, where she closely followed market developments, investment strategies, and evolving industry trends. This practical exposure strengthened her understanding of financial markets. She has also written content across multiple formats and platforms, including YouTube, LinkedIn, and Instagram. <br><br> Over time, she has developed expertise in covering market-linked stories, investor-focused topics, and regulatory updates in a simplified yet informative style. She also enjoys reading and listening to Hindi poetry, reflecting her appreciation for literature and creative expression beyond the world of markets and numbers.

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HomeMoneyPersonal FinanceMutual funds got nearly 34% of Jio Platforms IPO anchor book allocation: Which schemes will own Jio shares? Expert views

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