India, Oct. 20 -- Jio Platforms has allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the top of its price band, after institutional demand topped Rs 2.5 lakh crore, more than 30 times the amount on offer, according to a stock exchange filing and people familiar with the matter.

The company allotted 7.24 crore shares at Rs 1,119 each. The initial public offering opens for public subscription Wednesday, October 21, and closes Friday, October 23. It is expected to be India's largest IPO. How far the institutional interest carries over to the wider public will become clear only once the offer opens.

Life Insurance Corporation of India received the largest allocation, worth Rs 499.98 crore, or 6.17 percent of the anchor por...