business
Jio IPO subscription hits 3.16x on first day
Jio IPO subscription hit 3.16x on its first day of trading
Key points
- The Jio Platforms Ltd IPO achieved full subscription within 100 minutes of opening on Wednesday.
- Qualified institutional buyers led the response, applying for 46.15 crore shares against a reserved 4.90 crore shares.
- The offering will remain open for subscription until October 23.
Why it matters. The IPO set a record for the fastest subscription of a mega IPO in India, reflecting strong demand particularly from institutional investors.
Jio Platforms Ltd's Rs 30,213-crore initial public offering was subscribed 3.16 times on its first day of trading Wednesday. Exchange data shows investors bid for 62.36 crore shares by 5 pm, with total bid values reaching approximately Rs 69,800 crore. A PTI report states the IPO has attracted around Rs 77,892 crore when including commitments from anchor investors.
Latest updates
Jio IPO subscription hits 3.16x on first day
The Jio IPO recorded a subscription of 3.16 times on its first day of trading. According to reports, the offering has generated significant market interest since its launch. The subscription window will remain open until October 23. Investors are closely monitoring the demand for the telecom giant's public listing.