Jio Platforms IPO priced at ₹1,119 and subscribed 22.2 times
Business
Jio Platforms just locked in its IPO price at ₹1,119 per share after a massive wave of investor interest. The ₹30,188 crore offering was subscribed 22.2 times. Talk about demand!
With the company listing on October 28 and a valuation of ₹10.3 lakh crore, it's clear investors are feeling confident about Reliance's digital and telecom arm.
Jio Platforms bids topped ₹7.4L cr
This IPO broke records as India's quickest fully subscribed public issue: big investors jumped in within 10 minutes of opening on October 21.
By the end, total bids topped ₹7.4 lakh crore, beating Hyundai Motor India's ₹27,859-crore IPO in 2024.
All shares are fresh issues to help Reliance Jio Infocomm cut down its debt, a move that shows how much faith people have in the future of Indian tech and telecom.