International investors are showing huge interest in the IPO of Reliance Industries Group's Jio Platforms. Sources have revealed that the demand for the anchor book worth Rs 8,110 crore has been oversubscribed by more than 30 times. The total interest received from institutional investors has reached about Rs 2.5 lakh crore, it is reported. Jio is the first Indian IPO to receive such a level of demand. With this response, expectations have increased on the Jio IPO, which is considered one of the largest public issues in the country.
Leading asset management companies and public investment funds of the world are showing interest in this issue. Companies like BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JP Morgan Asset Management, Franklin Templeton, Invesco, Janus Henderson are on this list.
It is reported that there has been a huge response from public wealth funds as well. Singapore's GIC, Norway's Norges Bank Investment Management, Abu Dhabi Investment Authority and Qatar Investment Authority are among the institutions that have shown interest in this issue.
The response from domestic investors has also been strong. All the top 10 mutual fund houses in India have shown interest in investing in the Jio IPO, sources said. SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund are among them.
Leading insurance and pension companies in the country have also shown interest. The list includes Life Insurance Corporation of India (LIC), HDFC Life, SBI Life, SBI Pension, HDFC Pension and ICICI Prudential. A person said that bids for the issue were in the billions of dollars. However, the people who disclosed these details refused to reveal their names.
Along with general institutional investors, international funds focusing on the technology sector and large family investment companies have also shown interest. Foreign long-term investors, sovereign wealth funds and pension funds are said to be the main contributors to the demand, sources said.
Jio, which started with telecom services, has now grown into a broad-based company providing broadband, cloud services, entertainment and digital services for businesses. Jio Platforms will be listed separately on the stock market through the IPO. It is currently a subsidiary of Reliance Industries. While the huge institutional demand indicates investor interest in Jio's business, it is important to examine the price, valuation, and financial details before investing in the IPO.
Huge demand for Jio IPO.. Over 30 times response to Rs.8,110 crore issue!
