Jio Platforms IPO oversubscribed 3.2 times led by institutions
Business
Jio Platforms's IPO kicked off with a bang: oversubscribed 3.2 times on day one itself.
Institutional investors led the charge, snapping up 9.42 times their allotted shares, while non-institutional buyers also showed strong interest.
Jio Platforms retail bids ₹6,900cr record
The IPO reached full subscription in just 100 minutes, with employees and shareholders joining the action too.
Retail investors made bids worth over ₹6,900 crore, the highest ever for an Indian IPO on opening day!
The offer is open till Friday; allotment happens October 26 and shares list October 28.
Funds raised will help boost Jio's digital growth plans.