business
Jio IPO sets new records: Bids cross Rs 50,000 crore after full subscription in 100 minutes
Jio Platforms' IPO drew bids worth over Rs 50,000 crore and was fully subscribed within 100 minutes of opening.
Archived — last updated
Key points
- Jio Platforms' Rs 30,213-crore IPO received bids worth more than Rs 50,000 crore by mid-afternoon Wednesday.
- Investors subscribed to 2.35 times the shares on offer on the first day, per exchange data at 2:45 PM.
- The issue became India's fastest IPO to reach full subscription, crossing that mark within 100 minutes of opening.
Why it matters. The record subscription speed and demand, led by institutional investors, position Jio's offering to become the country's largest-ever IPO, a signal of strong investor appetite for large Indian public issues.
Jio Platforms Ltd's Rs 30,213-crore initial public offering received bids worth more than Rs 50,000 crore by mid-afternoon on Wednesday, according to stock exchange data updated at 2:45 PM. Investors subscribed to 2.35 times the shares available on the first day, with bids for 46.50 crore shares against 19.75 crore on offer.
Latest updates
Jio IPO sets new records: Bids cross Rs 50,000 crore after full subscription in 100 minutes
Jio Platforms Ltd's ₹30,213-crore initial public offering received bids worth more than Rs 50,000 crore by mid-afternoon on Wednesday, according to stock exchange data. The IPO was fully subscribed within 100 minutes of opening, setting a new record for the speed of subscription for an Indian public issue. Data updated at 2:45 PM showed bids for 46.50 crore shares against the 19.75 crore shares on offer. The overwhelming response underscores strong investor demand for the country's largest public issue. The IPO, backed by Mukesh Ambani's Reliance Industries, opened on October 21 and will close on October 23. The subscription speed sets Jio's IPO apart from other large public offerings in India.
Sources
AI-assisted summary of the reporting above. Quotes are kept to one sentence. Copyright concern? See our DMCA takedown page.
Topics
Related stories
Latin American banana producers seek higher pay amid climate crisis
Banana producers in Latin America are calling for better pay to help cope with the impact of the climate crisis, as they face big drops in
Democratic midterm sweep threatens Trump tariffs and AI expansion
Democrats won U.S. House and Senate, threatening Trump's tariffs and AI plans
EU considers acting on Russia shadow fleet sanctions without US support
Since Russia's full-scale invasion of Ukraine , Moscow has increasingly relied on a so-called shadow fleet to bypass Western sanctions and