Jio Platforms IPO: Jio Platforms Ltd’s Rs 30,200-crore initial public offering (IPO) has drawn an overwhelming response from investors, attracting total demand of around Rs 3.73 lakh crore, including anchor
investor interest and bids received during the first two days of public subscription.
The strong demand underscores investor appetite for the country’s largest digital and telecom platforms as the mega IPO enters its final day of subscription on October 23.
Jio Platforms allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the upper end of its price band. Institutional demand for the offering had reached Rs 2.5 lakh crore, exceeding the amount available in the anchor book by more than 30 times.
The public issue also witnessed robust participation on its second day on October 22, with investors placing bids worth Rs 1.23 lakh crore, calculated at the upper end of the price band of Rs 1,065-1,119 per share. The issue was subscribed more than 5.5 times, based on the shares available across investor categories.
Based on the available figures, the demand represents the highest bid value among Indian IPOs that have raised more than Rs 15,000 crore.
QIBs Lead Demand; Retail And Non-Institutional Investors Join In
Qualified institutional buyers (QIBs) emerged as the strongest contributors to the public issue, with their reserved portion subscribed 13.29 times. They bid for 65.14 crore shares against 4.9 crore shares on offer.
The non-institutional investor (NII) category was subscribed 5.97 times, reflecting strong participation from high-net-worth investors and other eligible applicants.
Retail investor participation also remained firm, with the category subscribed 1.54 times. Investors bid for 13.09 crore shares against 8.5 crore shares reserved for retail applicants.
The employee portion was subscribed 2.1 times, while the shareholder reservation received bids equivalent to 4.04 times the shares on offer.
Jio Platforms IPO Fully Subscribed Within 100 Minutes
The offering had already set the pace on its opening day on October 21, when it was fully subscribed within 100 minutes of the start of bidding. The rapid subscription made it the fastest-subscribed mega public issue in India.
The strong response across investor categories has further reinforced the scale of demand for the offering, with institutional investors accounting for a substantial share of the bids.
The Jio Platforms IPO will close on October 23, while the company’s shares are expected to list on the stock exchanges on October 28.
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