Jio Platforms IPO subscribed 3.05 times on Day 1, attracts bids worth over ₹67,500 crore
The Jio Platforms IPO was subscribed 3.05 times on its first day, attracting over ₹67,500 crore in bids, led by strong demand from Qualified Institutional Buyers.
The initial public offering of Jio Platforms was subscribed 3.05 times on the first day of bidding on Wednesday, October 21, attracting bids worth over ₹67,500 crore as of 6:30 pm.The ₹30,213 crore IPO received strong investor demand, with the issue subscribed within 100 minutes of its launch. The response marked a significant milestone for one of India's largest public offerings, with Qualified Institutional Buyers leading demand.The QIB portion was subscribed 9.06 times as of 6:30 pm, while the non-institutional investor category was subscribed 1.64 times. The portions reserved for employees and shareholders were subscribed 1.35 times and 1.44 times, respectively.Jio Platforms IPO subscription status on Day 1The category-wise subscription status of the Jio Platforms IPO as of 6:30 pm on October 21 was as follows:Overall subscription: 3.05 timesQualified Institutional Buyers : 9.06 timesNon-Institutional Investors : 1.64 timesRetail investors: 0.72 timesEmployees: 1.35 timesShareholders: 1.44 timesThe strong overall subscription and institutional demand highlight investor interest in the offering.
QIBs emerged as the leading category, subscribing to more than nine times the shares reserved for them.Jio Platforms IPO: Issue size and structureAt ₹30,213 crore, the Jio Platforms IPO is larger than the Hyundai Motor India IPO of ₹27,870 crore and the LG Electronics India IPO of ₹11,605 crore, based on the figures in the background information. Unlike offerings that primarily involve existing shareholders selling their shares through an offer for sale , Jio Platforms' IPO is a fresh issue.Jio Platforms IPO: Subscription timelineThe IPO opened for subscription on October 21 and will close on October 23. The shares are expected to list on October 28.Read More: Jio Platforms IPO sets new benchmarks in scale, speed and appeal - CNBC TV18
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