LIC Leads the Charge: Gets Largest Rs 500 Crore Slice of Jio Platforms IPO Anchor Book
LIC leads anchor investors in Jio Platforms IPO with a Rs 500 crore allocation. Find out more about the Rs 30,188-crore public offering.
The Life Insurance Corporation of India (LIC) has emerged as the biggest individual player in the anchor investor segment for the highly anticipated Jio Platforms IPO. In a massive show of confidence, the insurance giant was allotted shares worth nearly Rs 500 crore, marking the largest single allocation in the anchor book ahead of the company's grand public debut.
The Numbers Behind the Anchor Allocation
According to official exchange filings, Jio Platforms has successfully raised Rs 8,110 crore from a prestigious group of anchor investors. This comes as a precursor to the larger initial public offering, which aims to raise a staggering Rs 30,188 crore.
The company's IPO Committee, working alongside book-running lead managers, finalized the allocation of 7,24,74,066 equity shares to these anchor investors. The shares were priced at a uniform rate of Rs 1,119 per share. This price includes a securities premium of Rs 1,109 over the face value of Rs 10 per share.
LIC's Dominant Position
LIC's investment is a significant highlight of the anchor round. The corporation was allotted 44,68,128 equity shares, valued at approximately Rs 499.98 crore. This single investment accounts for 6.17 per cent of the entire anchor investor portion.
A Global Who's Who of Investors
While LIC took the lead, the anchor book attracted a diverse and powerful array of global institutional investors, sovereign wealth funds, and domestic mutual funds. Other major allocations included:
- New World Fund Inc: Approximately Rs 486.27 crore.
- Government of Singapore: Around Rs 340.93 crore.
- BNP Paribas Financial Markets: Approximately Rs 303.25 crore.
The list of participants reads like a directory of the world's most influential financial entities. Global investment giants such as BlackRock, Fidelity Investments, Capital Group, Schroders, and JPMorgan Asset Management all participated. Additionally, the Abu Dhabi Investment Authority and the Qatar Investment Authority provided sovereign backing, while various domestic mutual fund schemes and insurance-linked investment entities rounded out the group.
What's Next for the Jio Platforms IPO?
With the anchor round successfully closed, the Jio Platforms IPO is now ready for the general public. The price band for the offering has been fixed between Rs 1,065 and Rs 1,119 per equity share.
Investors looking to participate can mark their calendars for the following dates:
- Subscription Opens: Wednesday, October 21.
- Subscription Closes: Friday, October 23, 2026.