Jio Platforms IPO sets world record with over 1cr applications
Jio Platforms's IPO just set a new world record, crossing one crore applications, more than any other IPO ever, even beating Waaree Energies's previous high.
The bidding is still open, so that number could climb even higher before it wraps up.
Jio Platforms IPO subscribed 7.5x
As of 12:40pm on October 23, demand was huge: the IPO was subscribed 7.5 times for its 19.75 crore shares. Retail investors jumped in at 2.1 times the available shares, but big institutional players went all-in: QIBs at 16.06 times and NIIs at 10.14 times the shares offered.
Jio's IPO hit full subscription in just 100 minutes on the opening day of the IPO, the fastest for any mega issue in India!
The listing is set for October 28, and with ₹8,109.85 crore already raised from anchor investors, it's clear Jio has everyone's attention right now.