Jio Platforms IPO seeks over $100bn valuation, draws ₹7L/cr bids
Jio Platforms is gearing up for a massive IPO with hopes of topping a $100 billion valuation.
The buzz is real: investors poured in around ₹7 lakh crore in bids and sent in 1.34 crore applications, making this India's fastest-subscribed mega IPO ever (it sold out in just 100 minutes).
QIBs excluding anchor investors bid ₹3.87L/cr
A big chunk of demand came from QIBs excluding anchor investors, who alone bid ₹3.87 lakh crore. Retail investors and employees also jumped in enthusiastically.
This wave of interest follows Jio's $20 billion capital raise back in 2020 and shows that investor confidence is still strong despite global market ups and downs.
If all goes as planned, Jio Platforms carries a valuation of around ₹10.3 lakh crore, and with its listing, Reliance Group is also expected to become India's largest listed business group in terms of aggregate listed market capitalisation.