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Jio Platforms IPO Oversubscribed 22.19 Times
Jio Platforms' IPO was oversubscribed 22.19 times, seeking a valuation of approximately Rs 10.3 lakh crore.
Jio Platforms concluded its three-day IPO bidding process in India with an overall subscription of 22.19 times. The Rs 30,213 crore issue offered 19.75 crore shares at a price band of Rs 1,065–1,119, seeking a valuation of approximately Rs 10.3 lakh crore. Anchor investors including LIC, BlackRock and Fidelity provided Rs 8,110 crore on October 19. The company intends to use up to Rs 27,500 crore of net proceeds to repay borrowings of Reliance Jio Infocomm.
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Jio Platforms IPO Oversubscribed 22.19 Times
Jio Platforms' IPO ended with strong investor demand, receiving bids for 438 crore shares against the 19.75 crore shares offered. The Qualified Institutional Buyer (QIB) portion was oversubscribed 70 times. In the unlisted market, the grey market premium for the stock was approximately 21% on the final day.
Reliance Jio IPO oversubscribed 5.57 times by second day
The IPO subscription period ends on Friday, October 23. Non-institutional investors (NIIs) led the demand with a subscription rate of 5.97 times. The employee section was booked 2.10 times, while the retail portion reached 1.54 times. This offering marks the largest initial public offering in Indian history.
Reliance Jio IPO subscription rises to 5.57 times on day two
The Reliance Jio Platforms IPO subscription rose from 3.16 times on day one to 5.57 times by the second day, October 22. Qualified Institutional Buyers (QIBs) subscribed 13.29 times, while non-institutional investors reached 5.97 times. Retail investors showed more moderate interest at 1.54 times. The offering is backed by Mukesh Ambani's Reliance Industries Limited.