THEBUSINESSBYTES BUREAU

MUMBAI, OCTOBER 19, 2026

The anchor book of Reliance Industries' Jio IPO has attracted aggregate institutional demand of over Rs 2.5 lakh crore, marking the first time an Indian initial public offering has crossed the landmark threshold and underscoring strong confidence among domestic and global institutional investors.

Banking sources confirmed that the demand figure emerged following the collation of bids from Indian and international investors. The Rs 8,110-crore anchor book attracted demand exceeding 30 times its size, reflecting robust appetite for the offering among long-term institutional investors.

The unprecedented response was underpinned by broad-based participation from more than 200 investor lines, highlighting the depth of interest across multiple fund schemes and investment mandates. The diversity of participants also signals a strong institutional endorsement of the company's market prospects.

The anchor book saw participation from some of the world's most prominent sovereign wealth funds, pension funds, asset managers and mutual funds. Long-term institutional investors included LIC, GIC, Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA), Norges Bank-related investment funds, PSP Investments, California State Teachers' Retirement System and Florida Retirement System, alongside SBI Pension, HDFC Pension, ICICI Prudential Pension and UTI Pension.

Leading domestic mutual fund houses, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund and Nippon India Mutual Fund, were among the major participants. Global investment giants such as BlackRock, Capital Group, Fidelity Management & Research, Schroders, JPMorgan Asset Management, Allianz, T Rowe Price and Prudential also featured in the anchor book.

The participation of global technology-focused and growth-oriented investors, including Dragoneer, Janus Henderson and Ninety One, further broadened the investor base. Prominent Indian family offices, including Enam, Premji, Zerodha and HCL, also participated, reflecting interest from domestic private investment pools.

Among the largest allocations, LIC committed Rs 500 crore, while BlackRock, Capital International, Fidelity Management & Research, GIC, HDFC Mutual Fund, ICICI Prudential Mutual Fund and SBI Mutual Fund received allocations of Rs 425 crore each. Aditya Birla Sun Life Mutual Fund and Capital World were allocated Rs 300 crore each, while Schroders received Rs 293 crore.

Kotak Mutual Fund, Ninety One and Nippon India Mutual Fund were allocated Rs 200 crore each. JPMorgan Asset Management received Rs 182 crore, while ADIA, Allianz, Dragoneer and QIA were allocated Rs 150 crore each.

The anchor book also featured allocations to a wide range of domestic and international investors, including Franklin Templeton, Mirae Asset, White Oak, Blackstone, Invesco, Morgan Stanley Investment Management, Marshall Wace, Millennium and T Rowe Price, alongside insurance companies, pension funds and other institutional investors.

Fidelity Contra Fund, one of the prominent active global mutual fund strategies represented in the offering, was also among the notable participants, adding to the breadth of institutional interest in the issue.

Market participants view the scale and diversity of the anchor demand as a significant milestone for India's primary capital market, particularly given the participation of investors with long-term investment horizons. The presence of sovereign wealth funds, pension funds, global asset managers and leading domestic institutions provides a broad institutional base to the offering.