Jio Platforms' anchor book draws record ₹2.5 trillion in bids ahead of IPO

Jio Platforms 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 trillion, 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 two days before the initial public offering 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.