Reliance Industries subsidiary Jio Platforms is attracting strong interest from domestic and global institutional investors ahead of its initial public offering (IPO), which is scheduled to open on October 21. According to sources quoted in a report on Saturday, early investor demand is estimated at around Rs 2.5 lakh crore, more than eight times the issue size of Rs 30,213 crore.
The interest spans government-backed investment funds, global long-term investors, major Indian mutual fund houses and insurance companies. However, the figure reflects preliminary institutional demand rather than final IPO subscriptions or confirmed share allocations. The picture is expected to become clearer after anchor investors place their bids.
Global investors show interest in Jio Platforms IPO
Several major international investors are reportedly interested in the offering. These include sovereign wealth funds such as Singapore’s GIC, Norway’s Norges Bank Investment Management, the Abu Dhabi Investment Authority and the Qatar Investment Authority.
Global investment firms BlackRock, Fidelity and Capital Group are also among the names cited as showing interest. In addition, technology-focused global investors and large family investment offices have indicated substantial demand for the issue, according to sources familiar with the matter.
LIC, SBI Mutual Fund and HDFC Mutual Fund among domestic names
Interest is not limited to overseas investors. India’s Life Insurance Corporation (LIC), SBI Mutual Fund and HDFC Mutual Fund are among the domestic institutional investors reportedly interested in the IPO.
The reported early demand of Rs 2.5 lakh crore includes interest from these domestic institutions alongside global funds and insurance companies. The figure is an indication of investor appetite at this stage, rather than a guarantee of how much the offering will ultimately be subscribed.
Jio Platforms IPO dates and price band
The Rs 30,213 crore IPO is scheduled to open for subscription on October 21 and close on October 23. Anchor investors will be able to bid on October 19.
The company has set a price band of Rs 1,065 to Rs 1,119 per share. Jio Platforms could list on the stock market on October 28, according to the reported schedule.
The anchor investor bidding process is expected to offer a clearer indication of how much of the preliminary institutional interest translates into formal allocations and, subsequently, public subscription.
Who owns Jio Platforms?
Reliance Industries holds a 66.43% stake in Jio Platforms. Meta Platforms’ associated entity owns 9.98%, while Google International holds 7.73%.
The proposed IPO has drawn attention from a broad range of institutional investors, but the final level of demand will become clearer as the bidding process progresses.
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