Jio IPO anchor investors: ₹8,110 crore from 212 anchors, LIC takes the most
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- : Jio allotted ₹8,109.85 crore of shares to 212 anchor investors, with bids above ₹2.5 lakh crore; LIC got the largest allocation
Anchor bids topped ₹2.5 lakh crore, more than 30 times the book, before the public offer opens on 21 October. Who took the shares, how much of the ₹30,213 crore issue is placed, and the dates a retail applicant needs.
Original report
Figures as reported by 20 October 2026. This article is for information only and is not investment advice. Readers should consult a registered adviser before investing.
Jio Platforms allotted shares worth ₹8,109.85 crore to 212 anchor investors on 19 October 2026, at ₹1,119 a share, the top of its price band, ThePrint and IndiaIPO reported (ThePrint, 2026; IndiaIPO, 2026). Anchor bids topped ₹2.5 lakh crore, more than 30 times the shares on offer to anchors, and LIC got the largest single allocation, ₹499.98 crore, ThePrint reported.
For a retail applicant the anchor result changes no dates: the public offer opens on 21 October and closes on 23 October, both outlets reported. What it does show is how much of the ₹30,213 crore issue is already placed. See how every outlet covered it.
Jio IPO anchor investors: who took the ₹8,110 crore
Domestic mutual funds took the biggest share of the anchor book, and one insurer took the biggest single slice.
- LIC: ₹499.98 crore, the largest allocation, ThePrint reported. That is about 6.2% of the anchor book (₹499.98 crore ÷ ₹8,109.85 crore).
- Mutual funds: 34.34% of the anchor book, through 95 schemes of 25 fund houses, IndiaIPO reported. That works out to about ₹2,785 crore.
- Life insurers and pension funds: 13.44%, about ₹1,090 crore, IndiaIPO reported.
- Others named: IndiaIPO's headline names New World Fund among the top investors. A search summary we could not check against an opened page puts New World Fund at ₹486.27 crore, GIC at ₹340.93 crore, SBI Focused Fund at ₹315 crore and BNP Paribas ODI at ₹303.25 crore; treat those four figures as unconfirmed.
On average, each of the 212 anchors took about ₹38 crore (₹8,109.85 crore ÷ 212). The demand behind those allocations was far larger.
Bids against the shares on offer
Anchors bid more than ₹2.5 lakh crore for about ₹8,110 crore of shares, ThePrint reported, a book covered more than 30 times. ThePrint called the anchor demand a record.
Set against the whole issue, the anchor book is about 27% of the ₹30,213 crore that ThePrint gives as the total target (₹8,109.85 crore ÷ ₹30,213 crore). That leaves about ₹22,100 crore of the issue for the public offer that opens on 21 October.
Anchor demand does not tell us how the public offer will be subscribed; that is known only once bidding opens. The calendar matters more for a retail applicant.
What it means for a retail applicant's dates
- 21 October: the public offer opens, ThePrint and IndiaIPO reported.
- 23 October: the offer closes.
- 28 October: tentative listing, according to Sunday Guardian's earlier report (Sunday Guardian, 2026); we have not re-checked this date.
- Minimum bid: ₹13,428 for 12 shares at the ₹1,119 top band (12 × ₹1,119), Sunday Guardian reported.
- Not yet confirmed: the size of the retail quota and the basis-of-allotment date; we did not find them on a page we could open.
The price is fixed at the top of the band for anchors. The valuation it implies now has two figures.
Jio IPO valuation: $108bn or $106bn
ThePrint and IndiaIPO both give a valuation of $108bn; our earlier version used Reuters' figure of about $106bn at the top of the band (Reuters, 2026). The gap is about 2%, and none of the reports we read explains it.
KuCoin News had earlier reported a cut from $130bn to $108bn amid doubts over Jio's tech status (KuCoin News, 2026). We still found no second source for the $130bn figure.
The issue: ₹30,213 crore of new shares, mostly to repay debt
All ₹30,213 crore is fresh shares, Sunday Guardian reported. Up to ₹27,500 crore is for "repayment or prepayment of borrowings at Reliance Jio Infocomm", as quoted by the paper. That is about 91% of the issue (₹27,500 crore ÷ ₹30,213 crore).
The issue equals about 2.9% of the top-band valuation (₹30,213 crore ÷ ₹10.3 lakh crore, Reuters' rupee figure). Reuters reported that Akash Ambani leads the listing.
Size is where Jio stands apart from every Indian IPO before it.
How it stacks up against India's biggest IPOs
Rediff's list of India's 10 biggest IPOs, set beside Jio's planned issue (Rediff, 2026):
- Jio Platforms (planned): ₹30,213 crore
- Hyundai Motor India (2024): ₹27,870 crore per Rediff, ₹27,859 crore per Sunday Guardian
- NSE (September 2026): ₹22,569 crore
- LIC (May 2022): ₹21,000 crore
- Paytm: ₹18,300 crore
Jio's issue is about ₹2,350 crore, or roughly 8%, larger than Hyundai's (₹30,213 crore minus ₹27,859–₹27,870 crore). Size is one measure; profit is another.
What the valuation looks like against Jio's profit
Sunday Guardian reported FY26 revenue of ₹1.47 lakh crore, up 14.6%, and net profit of ₹30,049 crore, up 15.1%. At the top band, Reuters' ₹10.3 lakh crore valuation is about 34 times that profit (₹10.3 lakh crore ÷ ₹30,049 crore). For what drives that business, see our report Jio IPO: Indian phones used 37 GB of data a month in 2025, beating North America.
Risks and what could change
- Markets are weaker: the Nifty 50 fell 6% in four months, Reuters reported on 14 October, while India IPOs have raised US$12.65bn this year.
- Public demand is unknown until the offer opens on 21 October; anchor demand is not a guide to it.
- KuCoin News's report of doubts over Jio's tech status has not been answered in any source we read.
How the coverage split
ThePrint led on the record anchor demand, the ₹2.5 lakh crore in bids. IndiaIPO led on the amount raised and the top investors, LIC and New World Fund. In our earlier comparison, The Edge Malaysia's Reuters story led on the record size and KuCoin News on a valuation cut.
What we know
- Anchor allotment: ₹8,109.85 crore to 212 investors at ₹1,119 on 19 October (ThePrint, IndiaIPO).
- Anchor bids: more than ₹2.5 lakh crore, over 30 times the anchor book (ThePrint).
- Largest anchor: LIC, ₹499.98 crore (ThePrint).
- Mutual funds 34.34% and insurers and pension funds 13.44% of the anchor book (IndiaIPO).
- Issue: ₹30,213 crore of fresh shares; public offer 21–23 October.
What we don't know yet
- The retail quota and the basis-of-allotment date.
- Why the valuation is given as $108bn by ThePrint and IndiaIPO and about $106bn by Reuters.
- The exact allocations to New World Fund, GIC, SBI Focused Fund and BNP Paribas ODI.
- Whether the 28 October listing date still holds.
- How the public offer will be subscribed.
What happens next
- 21 October: public offer opens (ThePrint, IndiaIPO).
- 23 October: public offer closes.
- 28 October: tentative listing, per Sunday Guardian's earlier report; not re-checked.
Questions people are asking
How much did Jio raise from anchor investors?
₹8,109.85 crore from 212 anchor investors on 19 October, at ₹1,119 a share, ThePrint and IndiaIPO reported.
Who are the Jio IPO anchor investors?
LIC got the largest allocation, ₹499.98 crore, ThePrint reported. Domestic mutual funds took 34.34% of the book through 95 schemes, and IndiaIPO names New World Fund among the top investors.
When does the Jio IPO open and close?
The public offer opens on 21 October and closes on 23 October. Sunday Guardian earlier gave 28 October as the tentative listing date.
What is the minimum investment in the Jio IPO?
₹13,428 for 12 shares at the top of the band, Sunday Guardian reported.
What is the Jio IPO valuation?
$108bn according to ThePrint and IndiaIPO; Reuters gave about $106bn at the top of the ₹1,065–₹1,119 band.
- Jio IPO: Indian phones used 37 GB of data a month in 2025, beating North America
- Jio share listing gain tax: 20% within 12 months, ₹720 a lot at first-day close
References
- IndiaIPO (2026) Jio Platforms raises Rs 8,110 crore from 212 anchor investors ahead IPO. IndiaIPO. Available at: Jio Platforms raises Rs 8,110 crore from 212 anchor investors (Accessed: 20 October 2026).
- KuCoin News (2026) India's Jio Platforms Slashes IPO Valuation Amid Skepticism Over Tech Status. KuCoin. Available at: Jio Platforms Slashes IPO Valuation (Accessed: 16 October 2026).
- Rediff (2026) Jio Platforms to Reliance Power: A look at India's 10 biggest IPOs. Rediff. Available at: A look at India's 10 biggest IPOs (Accessed: 16 October 2026).
- Reuters (2026) India's Jio Platforms targets US$106 billion valuation in IPO, sources say. The Edge Malaysia. Available at: India's Jio Platforms targets US$106 billion valuation in IPO (Accessed: 16 October 2026).
- Sunday Guardian (2026) Jio IPO October 2026: Reliance Set ₹30,213-Crore Mega IPO to Break India's Fundraising Record. Sunday Guardian. Available at: Jio IPO October 2026 (Accessed: 16 October 2026).
- ThePrint (2026) Jio Platforms' anchor book draws record Rs 2.5 lakh crore in bids ahead of IPO. ThePrint. Available at: Jio Platforms' anchor book draws record Rs 2.5 lakh crore in bids (Accessed: 20 October 2026).
How we did this
For the 20 October update we read ThePrint and IndiaIPO on the anchor book, set their figures against the issue size and the dates in our 16 October version, and did the arithmetic shown in the text (shares of the anchor book, the average per anchor, and the anchor book as a share of the issue). Both put the valuation at $108bn, against the $106bn we took from Reuters via The Edge Malaysia, so we give both. The four named fund amounts come from a search summary, not an opened page, and are marked unconfirmed.
Our first version set the reported figures side by side from Reuters, Sunday Guardian, Rediff and KuCoin News, read on 16 October 2026. Where sources differ, we give both. The hero image is a bar chart built by United One News from those figures.
This story was produced, reviewed, edited and verified by the reporter before publication, with AI assistance where required.
Covered by 6 outlets across the spectrum: 0% left, 67% center, 17% right.
Who is covering this story
- Center (4): The Edge Malaysia, Rediff, ThePrint, IndiaIPO
- Right-leaning (1): Sunday Guardian
- Not yet rated (1): KuCoin News
Sources
- Jio IPO October 2026: Reliance Set ₹30,213-Crore Mega IPO to Break India’s Fundraising Record; Check IPO Date, Share Price, FY26 Earnings Growth, Financial Performance, Brokerage, Deadline & More — Sunday Guardian (right-leaning) ·
- India's Jio Platforms targets US$106 billion valuation in IPO, sources say — The Edge Malaysia (center) ·
- India's Jio Platforms Reduces IPO Valuation Amid Skepticism Over Its Tech Credentials | KuCoin — KuCoin News (not yet rated) ·
- Jio Platforms to Reliance Power: A look at India — Rediff (center) ·
- Jio Platforms' anchor book draws record Rs 2.5 lakh crore in bids ahead of IPO — ThePrint (center) ·
- Jio Platforms raises ₹8,110 crore from 212 anchor investors ahead IPO; LIC, New World Fund among top investors | INDIA IPO — IndiaIPO (center) ·