Jio Allocates $853.31 Million to Anchor Investors, Including BlackRock
Key Facts
Jio Platforms allocated more than 81 billion rupees, equivalent to $853.31 million, in shares to anchor investors collectively as part of its initial public offering, according to Reuters. BlackRock participated in the tranche alongside other investors, with the amount representing the total shares allocated to the participating group. A source told Reuters that anchor investor orders exceeded the shares available to them by more than 30 times. That demand relates to the offering's anchor investor tranche, for which shares were allocated before the remaining IPO stages were completed. The asset manager's participation in Jio coincides with a separate announcement by BlackRock launching an exchange-traded fund focused on robotics and related technologies.
BlackRock has an existing relationship with Jio Financial Services in asset management, with the companies having announced a targeted initial investment in a joint venture. In its statement announcing the venture's formation, BlackRock set a target contribution of $150 million from each party. That amount was a targeted initial investment when the asset management joint venture was announced. In investment advisory services, Jio BlackRock Investment Advisers operates as a joint venture between Jio Financial Services and BlackRock, according to a company disclosure. The companies share ownership of the advisory venture on a 50:50 basis, as part of BlackRock's investment relationship with the Indian market.
In its funds business, BlackRock announced the launch of the iShares Future of Robotics and Related Technologies ETF, trading under the ticker RBTX, to invest actively in the sector. The fund has an inception date of 20 October 2026, according to the official iShares product page. Its prospectus lists an expense ratio of 0.65%, while its investment scope focuses on robotics and related technologies. Tony Kim, head of BlackRock's fundamental equities technology team, said in the company's statement: "Robotics represents an important next phase of artificial intelligence adoption." The product's launch comes amid an expansion in the number of artificial intelligence-linked exchange-traded funds, according to Reuters' coverage of the launch. The agency reported that at least 6 funds in this category began operating during the month preceding its report.
The robotics fund was preceded by the listing of the iShares Bitcoin Premium Income ETF, trading under the ticker BITA, on Nasdaq on 16 June 2026, according to the exchange's announcement. The fund seeks to generate monthly income from premiums earned by selling call options on shares of IBIT, according to iShares' explanation of its strategy. Call option sales are intended to cover about 25–35% of the portfolio, the range the company specifies for this part of the strategy. The income mechanism relies on collecting premiums from options sold on IBIT shares, with the prospectus also allowing options on indexes tracking spot bitcoin products. In return, iShares said the strategy partially limits participation in bitcoin's gains when it rises sharply. Describing its effect on performance, it said the strategy "will partially dampen returns if bitcoin rises sharply," alongside the fund's objective of generating monthly income.
Regarding the use of Jio's offering proceeds, the company plans to allocate up to 275 billion rupees, equivalent to $2.90 billion, to loans of its subsidiary Reliance Jio Infocomm, according to Reuters. The planned use includes repayment or prepayment of those loans as part of the purposes of the IPO proceeds. On retail investor orders, the agency reported that their allotted tranche was fully subscribed on the offering's second day. The IPO is scheduled to close on 23 October 2026, according to the disclosure published through the Singapore Exchange. The listing follows, with Jio shares expected to begin trading on 28 October, according to Reuters.