Jio IPO QIB Portion Fully Subscribed Over 2x Within Minutes
· Business · Times of India, Moneycontrol, LiveMint
The Qualified Institutional Buyers category in Jio Platforms' IPO was subscribed more than twice over within minutes of opening on Wednesday. Demand reached 2.86 times the shares reserved for the category by 10 am, driven by immediate institutional bids. The offering, which runs from October 21 to October 23, aims to issue around 27 crore shares at a price band of Rs 1,065 to Rs 1,119 per share. The company expects to raise approximately Rs 30,213 crore, making it India's largest-ever public issue and surpassing Hyundai Motor India's October 2024 offering. Jio Platforms previously allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the top of the price band, with institutional bids crossing Rs 2.5 lakh crore earlier in the week.
Why it matters
This record-setting institutional demand signals strong investor confidence in India's largest-ever public offering from the Mukesh Ambani-led digital and telecom giant.
Read the original report — Times of India
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