The Economic Times

Jios mega IPO breaks all records with Rs 2.5 lakh crore anchor demand: BlackRock, GIC, LIC participate

Jio Platforms is making waves with its IPO, drawing in around Rs 2.5 lakh crore from institutional investors, reflecting remarkable enthusiasm in the market. With backing from renowned global asset managers and sovereign wealth funds, this Rs 30,200 crore offering launches on October 21, featuring a price band of Rs 1,065 to Rs 1,119 per share. The company aims to use most proceeds to clear existing debts, enhancing financial stability.