Jio Platforms IPO: Anchor book to draw bids over $20 billion, says report
Jio Platforms Ltd said to receive more than $20 billion in bids for its proposed initial public offering (IPO), which could become India’s biggest IPO, Bloomberg reported.
- Oct 14, 2026,
- Updated Oct 14, 2026 12:12 PM IST
Jio Platforms Ltd said to receive more than $20 billion in bids for its proposed initial public offering (IPO), which could become India’s biggest IPO, Bloomberg reported, citing people familiar with the matter. Bloomberg had earlier reported that Jio Platforms could sell its shares in the price band of Rs 1,065-1,119 per share.
Jio is seeking a valuation of up to Rs 10.3 lakh crore ($108 billion), after earlier expectations had reached as high as $170 billion. At the upper end of the price band, the IPO could raise a little more Rs 30,200 crore, according to Bloomberg calculations. However, the process is continuing and no final decision has been made and announced officially yet.
Global investors including Fidelity, Allianz and Capital Group, along with other international and domestic firms, have indicated interest in the offering, the report said. The people cited in the report asked not to be identified as the information is private. The final list of anchor investors is likely to be decided in the coming days.
Akash Ambani, the 34-year-old managing director of Jio Platforms and son of Mukesh Ambani, has been leading the deal. He has held meetings with investors in Hong Kong, London and New York in recent weeks.
During the roadshow, investors questioned Ambani and his team about the valuation target and the company's plans to charge for its digital services and various platforms, according to people who attended the meetings. The share sale is expected to open next week, with the IPO planned before October 30. The draft prospectus shows that the offering will be entirely a primary issue.
None of Jio Platforms' existing investors, including Meta Platforms, Alphabet, Mubadala and Saudi Arabia's Public Investment Fund, is seeking to sell shares in the IPO. Representatives for Jio's parent, Reliance Industries Ltd, and Fidelity did not respond to requests for comment. Allianz and Capital Group declined to comment.
Jio Platforms Ltd said to receive more than $20 billion in bids for its proposed initial public offering (IPO), which could become India’s biggest IPO, Bloomberg reported, citing people familiar with the matter. Bloomberg had earlier reported that Jio Platforms could sell its shares in the price band of Rs 1,065-1,119 per share.
Jio is seeking a valuation of up to Rs 10.3 lakh crore ($108 billion), after earlier expectations had reached as high as $170 billion. At the upper end of the price band, the IPO could raise a little more Rs 30,200 crore, according to Bloomberg calculations. However, the process is continuing and no final decision has been made and announced officially yet.
Global investors including Fidelity, Allianz and Capital Group, along with other international and domestic firms, have indicated interest in the offering, the report said. The people cited in the report asked not to be identified as the information is private. The final list of anchor investors is likely to be decided in the coming days.
Akash Ambani, the 34-year-old managing director of Jio Platforms and son of Mukesh Ambani, has been leading the deal. He has held meetings with investors in Hong Kong, London and New York in recent weeks.
During the roadshow, investors questioned Ambani and his team about the valuation target and the company's plans to charge for its digital services and various platforms, according to people who attended the meetings. The share sale is expected to open next week, with the IPO planned before October 30. The draft prospectus shows that the offering will be entirely a primary issue.
None of Jio Platforms' existing investors, including Meta Platforms, Alphabet, Mubadala and Saudi Arabia's Public Investment Fund, is seeking to sell shares in the IPO. Representatives for Jio's parent, Reliance Industries Ltd, and Fidelity did not respond to requests for comment. Allianz and Capital Group declined to comment.