BlackRock, GIC Among Investors Chasing Indian Telecom Major Jio's IPO as Anchor Bids Top $26 Billion
Jio Platforms plans to raise up to $3.2 billion through an IPO, which is India's largest ever in rupee terms, but the second largest in dollar terms.
TL;DR
- Jio Platforms' anchor book received bids worth $26.3 billion, more than 30 times the $854 million portion.
- Top global investors including BlackRock, Capital Group, and GIC participated in the anchor book bidding.
- The IPO aims to raise up to $3.2 billion, making it India's largest in rupee terms.
- The anchor investor quota was oversubscribed more than 30 times.
- Jio Platforms is positioning itself as a tech company, not just a utility provider.
- The IPO price values the company at around $108 billion.
- The public bidding for the IPO will be from Wednesday to Friday.