Home / Business and Economy / Jio IPO Shatters Records: Subscribed 3.16 Times!
Jio IPO Shatters Records: Subscribed 3.16 Times!
22 Oct
Summary
- Jio Platforms' IPO is India's largest at ₹30,213 crore.
- The IPO was fully subscribed within 100 minutes of opening.
- Institutional investors drove strong demand, with QIBs subscribing 9.42 times.
The ₹30,213-crore initial public offering (IPO) of Jio Platforms, the largest in Indian corporate history, achieved full subscription within its first 100 minutes on Wednesday. Investor demand significantly exceeded the shares on offer, with total bids valued at ₹69,800 crore at the upper price band.
Qualified Institutional Buyers (QIBs) demonstrated substantial interest, subscribing their portion 9.42 times. While non-institutional investors subscribed 1.68 times, the retail portion saw 0.73 times subscription. The anchor book, opened Monday, attracted over ₹2.5 lakh crore in demand.
Jio Platforms, the digital and telecom arm of Reliance Industries, intends to use up to ₹27,500 crore of the proceeds to repay or prepay borrowings of its subsidiary, Reliance Jio Infocomm. The remaining funds will be allocated for general corporate purposes.
