Jio Platforms' Rs 30,213-Cr IPO Becomes India's Biggest-Ever, Fully Subscribed Within Hours
Reliance Industries-backed Jio Platforms Ltd has set multiple records after its initial public offering (IPO), crossed the full-subscription mark by 10:36 am on Wednesday, October 21.
The IPO became India’s biggest-ever to achieve full subscription in record times, within a day, suggesting a strong investor demand for the country’s largest public issue.
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The Jio Platforms IPO was subscribed 1.28 times as of 11:30 am on Day 1. The investors were bidding for 25,20,52,632 shares against 19,75,25,934 shares on offer, according to subscription data. The IPO has drawn strong interest from qualified institutional buyers (QIBs), whose reserved portion was subscribed 3.86 times by 11:30 am.
Key records includes becoming India’s biggest-ever IPO, fastest among recent mega-IPOs to achieve full subscription, QIB portion subscribed within 28 minutes, and largest issue among the recent mega-IPOs compared. With a total issue size of Rs 30,213 crore, Jio Platforms has surpassed Hyundai Motor India’s Rs 27,870-crore IPO to become India’s largest-ever IPO.
