Punjab, Oct. 19 -- Jio Platforms' anchor book of Rs 8,110 crore drew bids worth about Rs 2.5 lakh crore - more than 30 times the amount on offer. BlackRock, Capital Group, Fidelity, T. Rowe Price and JPMorgan Asset Management are among the names reported to have bid.
What 30 times means
The anchor round is the institutional book built the day before an IPO opens. It is where the largest global funds commit at a fixed price, before the public sees the issue, and they cannot sell on listing day.
Thirty times coverage in that segment is not retail enthusiasm. It is the world's biggest asset managers deciding they want more of this company than is available, at Rs 1,119 a share, with a one-year lock on part of the allocation. That is the str...