Jio Platforms IPO: Bidding for the Jio Platforms IPO starts on Wednesday, October 21, and ends on Friday, October 23. The company wants to raise roughly Rs 30,213 crore, which makes this the biggest public offer the country has seen.

The price band is Rs 1,065-1,119 per share. Allotment is expected on October 26, and shares may list on the BSE and NSE on October 28.

Big institutions have already placed their bets. On October 19, Jio raised Rs 8,109.84 crore from 212 anchor investors. Anchors are large funds that buy shares a day before the public issue opens. They pay the same price as other investors, and here they paid the top of the band, Rs 1,119 per share.

According to Investorgain data, Jio Platforms’ GMP stood at Rs 245 ahead of the IPO opening. Compared with the upper end of the price band of Rs 1,119, this indicates a potential listing price of around Rs 1,364, or a gain of nearly 22%.

However, it is important to understand that GMP is unofficial and informally traded before their stock market debut. Also, it can change quickly depending on market sentiment, demand and other developments.

The anchor book provides another measure of institutional participation.

Jio Platforms allotted 7.25 crore shares at Rs 1,119 apiece, raising approximately Rs 8,109.84 crore. Life Insurance Corporation of India (LIC) received the largest individual allocation, followed by New World Fund Inc and the Government of Singapore.

Together, LIC and New World Fund received 12.17% of the anchor portion. The allocation list also includes investors such as Fidelity Contrafund, JP Morgan Funds and the Abu Dhabi Investment Authority.

Domestic institutional investors received 47.78% of the total anchor allocation, amounting to around Rs 3,874.91 crore.

Domestic mutual funds accounted for 34.34% of the anchor portion, while life insurance companies and pension funds received another 13.44%.

At the mutual fund house level, SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund each received allocations worth Rs 425 crore. SBI Focused Fund alone received shares worth Rs 315 crore, making it the largest individual mutual fund scheme allocation listed in the data.

Investors should assess Jio Platforms’ business prospects, valuation, financial performance and the risks outlined in its offer documents before deciding whether to subscribe. They should also remember that the GMP can change before listing.

The IPO is scheduled to close on October 23, with allotment expected on October 26 and listing planned for October 28, subject to the final exchange schedule.