Jio Platforms Limited has reportedly allocated about ₹81.1 billion in shares to institutional investors ahead of its initial public offering, giving the sale an institutional base before public bidding opens Oct. 21.
The Oct. 19 placement reached 212 investor accounts and fund schemes, Moneycontrol and NDTV Profit reported, citing an exchange filing. Shares were priced at ₹1,119 each, the top of the IPO range of ₹1,065 to ₹1,119.
Life insurers and pension funds took a reported 13.44% of the anchor allocation, worth ₹1,089.95 crore. Domestic mutual funds received more than a third: ₹2,784.96 crore went to 95 schemes managed by 25 fund houses, accounting for 34.34% of the allocation, the outlets reported.
NDTV Profit and News9 reported that Life Insurance Corporation of India (LIC) received 6.17% of the anchor allocation, worth ₹499.98 crore. The Economic Times identified BlackRock, Fidelity Investments, Singapore’s GIC and the Abu Dhabi Investment Authority as recipients of shares.
The deal does not include a sale by current owners: all of the up to 270 million shares described in Jio’s prospectus are newly issued. That structure directs net proceeds to Jio and will reduce existing holders’ percentage ownership as new shares are issued.
Jio plans to use part of the proceeds to prepay borrowings at Reliance Jio Infocomm Limited, its telecom subsidiary, and for general corporate purposes. The subsidiary served 533.3 million customers as of June 30, 2026, and accounted for 87.74% of Jio Platforms’ consolidated revenue from operations in fiscal 2026, according to the prospectus.
If the issue prices at the ₹1,119 cap and all offered shares sell, Jio’s advertised maximum of about ₹30,188 crore would exceed Hyundai Motor India Limited’s roughly ₹27,856 crore IPO in 2024. Jio’s figure accounts for a ₹54-per-share discount for eligible employees, according to Reliance Industries Limited’s price announcement.
Public bidding is scheduled to open Oct. 21 and close Oct. 23.
