Jio Platforms IPO pulls ₹90,500cr bids for ₹30,230cr issue
Jio Platforms's IPO just set a new benchmark: on its first day, it pulled in an incredible ₹90,500 crore in bids for a ₹30,230 crore issue.
That means it was already subscribed three times over by 5pm on October 21, making this India's biggest-ever IPO for anything above ₹15,000 crore.
Jio Platforms institutional portion subscribed 9x
Big institutional investors really led the charge here; their portion was subscribed nine times!
Non-institutional investors also showed up strong, while retail investors took up about two-thirds of their share.
Before all this action even started, Jio had already locked in ₹8,109.85 crore from anchor investors.
The IPO is open until October 23 and is expected to list on October 28, so if you're watching the markets or thinking about investing yourself someday, this is definitely one to keep an eye on.