Jio Platforms' anchor book draws Rs 2.5 lakh crore in bids ahead of IPO
Jio Platforms has 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 lakh crore, more than 30 times the amount available in the anchor book, according to a stock exchange filing and people familiar with the matter.
Via YourStory
The allotment of 7.24 crore shares at Rs 1,119 apiece comes ahead of the initial public offering that 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.
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