Jio Platforms IPO draws 6.5L/cr demand for 30,200 cr offer
Jio Platforms's IPO just set a new bar: investors generated about ₹6.5 lakh crore in total demand, including anchor-investor interest and bids received through the second day of public subscription, for a ₹30,200 crore offer, oversubscribing it by more than 18 times.
On the third day of public subscription on October 22, bids poured in at the top price band of ₹1,065-₹1,119 per share, making this the highest-value bid among Indian IPOs that raised more than ₹15,000 crore, based on the figures available.
Institutional investors subscribed 54.68x
Big institutional investors led the charge, subscribing 54.68 times their allotted shares.
Non-institutional buyers also showed strong interest at 13.83 times their quota, while retail investors and even employees joined in with healthy numbers.
The whole IPO was fully booked within just 100 minutes of opening. Talk about confidence in Jio's future!