India’s Biggest IPO Is Here! Why Investors Are Betting Big On Jio

Reliance’s Jio Platforms has made a strong start to its ₹30,213-crore IPO, surpassing Hyundai Motor India’s ₹27,870-crore offering to become India’s largest IPO by issue size, according to the figures cited in this report. By 1.15 pm on Wednesday, the issue was subscribed 1.65 times, with the qualified institutional buyers (QIB) category receiving bids for 4.86 times its reserved portion. The IPO’s anchor book also attracted bids worth over ₹2.5 lakh crore, with shares worth ₹8,110 crore allotted at ₹1,119 apiece. Global investors, including BlackRock, Fidelity, Capital Group, Allianz and ADIA, participated in the anchor book. The fresh issue proceeds will largely be used to repay or prepay borrowings at Reliance Jio Infocomm. With over 533 million customers, a major share of India’s data traffic and an expanding AirFiber business, Jio enters the public market with significant scale and ambitions. Here’s a closer look at the IPO’s opening-day response, investor demand, business strengths and what makes this landmark Reliance offering stand out.