Jio Platforms IPO opens with 3.16x subscription on Day One
· Business · LiveMint, Bloomberg
Jio Platforms Ltd's initial public offering debuted with investors bidding 3.16 times the shares on offer on Wednesday, marking the highest first-day subscription for any mega IPO in India. The issue, which closes for subscription on 23 October, collected bids for 62.36 crore shares totalling ₹69,763 crore—₹47,660 crore above the expected amount. Qualified institutional buyers led the demand, bidding 9.42 times their quota and accounting for 74% of total investor interest. The IPO was fully subscribed within 100 minutes, a rare feat for a mega offering in the domestic market.
Why it matters
The strong institutional participation despite a declining Nifty 50 index underscores robust investor appetite for India's largest telecom IPO, which will raise ₹30,213 crore at the upper price band and set a benchmark for subsequent share sales.
Read the original report — LiveMint
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.