Mumbai (Maharashtra) [India], October 20 (ANI): Life Insurance Corporation of India (LIC) received the largest individual allocation in the anchor book of Jio Platforms Ltd's initial public offering (IPO), with shares worth nearly Rs 500 crore allotted at Rs 1,119 apiece, according to the exchange filing.

Jio Platforms has raised Rs 8,110 crore from anchor investors ahead of its Rs 30,188-crore initial public offering (IPO), with participation from leading global institutional investors, sovereign wealth funds, insurance companies and domestic mutual funds.

The company's IPO Committee, in consultation with the book-running lead managers, finalised the allocation of 7,24,74,066 equity shares to anchor investors at Rs 1,119 per share. The allocation amounts to approximately Rs 8,109.85 crore. The price includes a securities premium of Rs 1,109 per share over the face value of Rs 10, the filing said.

LIC received 44,68,128 equity shares, valued at Rs 499.98 crore, accounting for 6.17 per cent of the anchor investor portion.

New World Fund Inc received an allocation worth approximately Rs 486.27 crore, while the Government of Singapore was allotted shares worth around Rs 340.93 crore. BNP Paribas Financial Markets received an allocation worth approximately Rs 303.25 crore.

The anchor book also attracted participation from global investment firms, including Capital Group, Fidelity Investments, BlackRock, JPMorgan Asset Management and Schroders, alongside sovereign investors such as the Abu Dhabi Investment Authority and Qatar Investment Authority.

Domestic institutional participation included mutual fund schemes and insurance-linked investment entities. Several asset managers participated through multiple funds and schemes, which are listed separately in the exchange disclosure.

The equity shares were allocated at a uniform price of Rs 1,119 apiece, the filing said. 

The IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. The price band has been fixed at Rs 1,065-Rs 1,119 per equity share. (ANI)