Jio Platforms' IPO draws Rs 2.5 lakh crore in anchor bids
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Global investors included BlackRock Global Funds, Capital Group, Fidelity, New World Fund and American Funds Developing World Growth and Income Fund. Other overseas participants included Abu Dhabi Investment Authority (ADIA), Janus Henderson, Societe Generale, Morgan Stanley Investment Funds, Norway's Government Pension Fund Global, Citadel Securities Singapore, Eastspring Investments, T. Rowe Price, Prudential Hong Kong and Integrated Core Strategies (Asia).
Mumbai: The anchor book in the Jio Platforms initial public offering (IPO) Monday garnered a staggering response at 30 times the stock on offer for this category of bidders. Global and domestic bulge-bracket investors bid more than ₹2.5 lakh crore to own a slice of Jio Platforms, against the earmarked ₹8,110 crore anchor book in what is set to be India's biggest IPO. It allotted 72.5 million equity shares at the upper end of its price band of ₹1,065-1,119, Jio said in an exchange filing late Monday.Global investors included BlackRock Global Funds, Capital Group, Fidelity, New World Fund and American Funds Developing World Growth and Income Fund. Other overseas participants included Abu Dhabi Investment Authority (ADIA), Janus Henderson, Societe Generale, Morgan Stanley Investment Funds, Norway's Government Pension Fund Global, Citadel Securities Singapore, Eastspring Investments, T. Rowe Price, Prudential Hong Kong and Integrated Core Strategies (Asia).
Read more: Jio IPO: LIC, BlackRock, Fidelity, GIC among 212 anchor investors to pour Rs 8,110 crore
The allocation also included Praxim Trading and Investment, Shamyak Investment and HCL Capital. Jio Platforms has allotted shares worth ₹8,109.85 crore to anchor investors at ₹1,119 a share, with domestic mutual funds accounting for 34.34% of the anchor book allocation.
Jio Platforms' anchor book drew institutional bids from global investors, sovereign funds, insurance firms, pension funds and mutual fund houses ahead of the public subscription to the issue.
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The issue was open for anchor investors Monday.
Domestic mutual funds received 24.9 million shares worth ₹2,784.96 crore through 25 fund houses. Life insurance companies and pension funds were allotted 9.74 million shares worth ₹1,089.95 crore, accounting for 13.44% of the anchor book, the company said.
A total of 22 insurance companies and pension funds participated in the allocation. Life Insurance Corporation of India was among the largest recipients, with 4.5 million shares of nearly ₹500 crore.
Domestic mutual fund houses participating in the anchor book included SBI Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, Edelweiss Mutual Fund, Bajaj Finserv Mutual Fund, Bank of India Mutual Fund, Helios Mutual Fund, JM Financial Mutual Fund, Mahindra Manulife Mutual Fund, Union Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund and Invesco Mutual Fund.
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