Jio Platforms $3.2 billion IPO fully booked within 2 hours
Business
SBI Securities is letting people borrow money to invest in the Jio Platforms IPO, which is looking to raise a massive $3.2 billion.
The IPO opened on October 21 and runs through October 23, but get this, it was fully booked within just two hours of opening.
SBI Securities offers 60% IPO funding
If you want in but don't have all the cash upfront, SBI Securities will cover up to 60% of your investment (for applications between ₹5 lakh and ₹10 lakh), using your shares as collateral.
The buzz is real: other big brokers like Groww and Zerodha are offering pre-booking too, and demand has been huge from both retail and institutional investors.
Firms expect this could bring in around 50 lakh new investors, making it one of the hottest IPOs since LIC's big debut in 2022.