Reliance Jio IPO: LIC, leading MFs, AMCs and global investors eye issue, say reports | Check latest GMP price today
Jio Platforms’ upcoming IPO has reportedly attracted nearly ₹2.5 lakh crore in commitments, reflecting strong interest from major global and domestic institutional investors ahead of the public issue.
Global investors, including sovereign wealth funds and prominent asset managers such as Allianz and BlackRock, have reportedly expressed interest in participating in the anchor book of the ₹30,188-crore offering. The IPO is expected to be the largest in India’s history.
Domestic institutions, including the Life Insurance Corporation of India (LIC), SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Kotak Mahindra Mutual Fund, are also among the prospective investors, according to media reports.
Other investors reportedly interested in the anchor allocation include the Government of Singapore Investment Corporation (GIC), Fidelity, Norway’s Government Pension Fund Global, New World Fund Inc and Smallcap World Fund Inc.
Jio Platforms IPO GMP today, or grey market premium, is +235. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jio Platforms share price was indicated at ₹1,354 apiece, which is 21% higher than the IPO price of ₹1,119.
In the past 15 sessions, the IPO GMP has fluctuated by ₹87, shifting between levels without establishing a clear trend. The most recent GMP is ₹235, indicating a shift in grey market expectations, as noted by analysts.
Jio Platforms IPO price band has been fixed at ₹1,065– ₹1,119 per share, with investors required to bid for a minimum of 12 shares and in multiples of 12 thereafter. Eligible employees applying under the reserved category will be entitled to a ₹54 per share discount.
The public issue will open for subscription on 21 October and close on 23 October, while the anchor investor bidding window is scheduled for 19 October. The offering will comprise a fresh issue of up to 27 crore equity shares, with no offer-for-sale (OFS) component.
The company has earmarked up to ₹2,500 crore in shares for eligible Reliance Industries shareholders and up to ₹500 crore for eligible employees, bringing the combined reservation to ₹3,000 crore.
Individuals and Hindu Undivided Families holding publicly listed Reliance Industries shares as of 14 October can apply under the shareholder quota, subject to the eligibility criteria outlined in the prospectus and applicable regulations. The employee quota is available to eligible Jio Platforms employees.
Jio Platforms intends to use part of the IPO proceeds to prepay up to ₹27,500 crore of borrowings at its operating subsidiary, Reliance Jio Infocomm. The balance will be allocated towards general corporate purposes.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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HomeMarketsIPOReliance Jio IPO: LIC, leading MFs, AMCs and global investors eye issue, say reports | Check latest GMP price today
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