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India’s Jio IPO anchor book draws sovereign and asset-manager bids as demand tops $25B

Reliance Industries said Monday that investors including Abu Dhabi Investment Authority, BlackRock and Fidelity bid in the anchor portion of Jio Platforms’ record $3.2 billion IPO. Two sources put total demand for the offering above $25 billion. The telecom, cloud and AI group opened the institutional book on Monday, with up to 30% of shares reserved for anchor investors, before the offering opens to the public on Wednesday.

Original source

AI take

The anchor book is the tell here: sovereign wealth and global asset managers committing early signals institutional conviction in Jio's telecom-to-cloud-and-AI positioning, not just appetite for a large Indian listing. The demand figure, if accurate, dwarfs the deal size, which matters for how the public tranche prices and for the precedent it sets for other large Indian tech issuers. Whether that oversubscription survives into the public book on Wednesday — and how much of it is anchor-driven rather than broad — is the open question.

Generated by AI for reference only.

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