Jio Platforms Draws $26 Billion in Anchor Bids Ahead of Record India IPO

Jio Platforms allocated 72.47 million shares to anchor investors at 1,119 rupees each after its $854 million anchor book drew over $26.3 billion in bids, representing an oversubscription of more than 30 times. Key participants included BlackRock and GIC. The offering values the telecom giant at roughly $108 billion at the upper band. Backed by Reliance Industries, Meta Platforms, and Alphabet's Google, Jio launched the IPO to raise up to 302 billion rupees ($3.2 billion) across 270 million shares, marking India's largest share sale in rupee terms. Neither Meta nor Google will sell shares.