Abu Dhabi and Qatar funds back Jio IPO
Abu Dhabi Investment Authority (Adia) and Qatar Investment Authority (QIA) are reportedly among the backers of the initial public offering (IPO) of India’s Jio Platforms.
The INR81 billion ($855 million) anchor book was oversubscribed 30 times, reaching $26 billion, unidentified sources told moneycontrol.com, an Indian financial website.
The anchor investor list includes BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco, Janus Henderson, Singapore’s GIC and Norway’s Norges Bank Investment Management.
The Bombay Stock Exchange has not released the list of anchor investment allocations.
Jio Platforms, a technology company owned by India’s Reliance Industries, is set to raise up to $3.2 billion at a valuation of $108 billion, making it one of India’s biggest-ever IPOs.
The IPO will be open for public subscription from October 21 to 23, with a price band of INR1,065 to INR1,119 per share.
Last week, Adia joined as an anchor investor in the IPO of Zetwerk, an Indian manufacturer of industrial and consumer products.
The Abu Dhabi wealth fund opened a new office in India’s free zone in October 2024 to accelerate its investment plans in the country.
It has anchored several IPOs in India, including the National Stock Exchange of India, stockbroker Groww and renewable energy company Clean Max Enviro Energy Solutions.
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Source: AGBI