Jio Platforms IPO Subscribed 3.2 Times on Day One, QIB Demand at 9.42 Times
The IPO achieved full subscription within 100 minutes of opening, making it the fastest mega public issue to reach the milestone, the company claimed in a release.
The non-institutional investors (NII) category was subscribed 1.83 times, while the employee quota received 1.36 times subscription and the shareholder reservation portion was subscribed 1.46 times.
The retail segment attracted bids worth more than Rs 6,900 crore on the first day, which the company described as the highest day-one retail demand for an IPO in India.
The issue also received strong demand during the anchor book process, which, according to the company, was oversubscribed more than 30 times.
Total demand, including the anchor book, stood at Rs 3.2 lakh crore.
Unlike some previous large public issues that were entirely offers for sale, the Jio Platforms IPO is a fresh issue of 27 crore shares.
The company said the proceeds would be used to support digital network expansion, cloud infrastructure and artificial intelligence enterprise platforms.
The IPO will close on October 23, with the basis of allotment scheduled for October 26.
Shares are expected to be credited to demat accounts on October 27 and listed on the BSE and NSE on October 28.
