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Jio Platforms' anchor book draws Rs 2.5 lakh crore in bids ahead of IPO

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Jio Platforms' anchor book draws Rs 2.5 lakh crore in bids ahead of IPO

Jio Platforms has allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the top end of its price band, after institutional demand for the offering exceeded Rs 2.5 lakh crore, more than 30 times the amount available in the anchor book, according to a stock exchange filing and people familiar with the matter.

The allotment of 7.24 crore shares at Rs 1,119 apiece comes ahead of the initial public offering that opens for public subscription on Wednesday.

The strong demand underscores institutional investor interest in what is expected to be India's largest IPO, although the extent to which it translates into broader public demand will become clearer once the offer opens.

Life Insurance Corporation of India received the largest allocation, worth Rs 499.98 crore, accounting for 6.17 per cent of the anchor portion.

New World Fund Inc was allotted shares worth Rs 486.27 crore, followed by the Government of Singapore at Rs 340.93 crore, SBI Focused Fund at Rs 315 crore and BNP Paribas Financial Markets - ODI at Rs 303.25 crore.

Domestic mutual funds received 2.489 crore shares worth Rs 2,784.96 crore, representing 34.34 per cent of the anchor book, through 95 schemes across 25 fund houses. Life insurers and pension funds received 97.4 lakh shares worth Rs 1,089.95 crore, or 13.44 per cent of the total.

67 per cent for insurers and pension funds.



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