Mumbai: Jio Platforms Limited's Rs 30,213 crore Initial Public Offering (IPO) witnessed strong investor demand on Wednesday, achieving full subscription within just 100 minutes of opening. The Reliance Industries-backed offering became India's fastest mega IPO to reach full subscription, driven primarily by institutional investors.
Jio IPO Subscription Status Today
According to exchange data, the Jio IPO received bids for 28.31 crore shares against 19.75 crore shares available, achieving 1.43 times subscription by 12:33 pm.
The public issue opened on October 21 and will remain available for subscription until October 23.
Institutional Investors Lead Subscription
Qualified Institutional Buyers (QIBs) emerged as the biggest contributors, with their reserved portion subscribed 4.13 times. Domestic financial institutions bid for 13.40 crore shares, while foreign institutional investors sought 5.94 crore shares.
However, retail investor participation remained relatively subdued, with the retail category subscribed 0.44 times. Non-institutional investors subscribed 0.57 times, while employee and shareholder categories recorded subscriptions of 0.95 times and 0.82 times, respectively.
Jio IPO Price Band And Valuation
The Jio Platforms IPO price band has been fixed at Rs 1,065–1,119 per share. At the upper price band, the company's estimated valuation stands at approximately USD 108 billion.
Unlike Hyundai Motor India and LG Electronics India, Jio's IPO involves fresh equity issuance, allowing the company to receive the proceeds.
Jio IPO Breaks Previous Records
Jio's Rs 30,213 crore offering surpasses Hyundai Motor India's Rs 27,870 crore IPO, previously India's largest public issue.
The company also attracted significant anchor investor interest, raising approximately Rs 8,110 crore from 212 investors.
What's Driving Investor Interest?
Jio's extensive telecom customer base and expansion into cloud computing, artificial intelligence and digital services remain central to its growth strategy.
With approximately 533.3 million customers, Jio aims to strengthen its position beyond traditional telecommunications.
Investors will monitor subscription trends until October 23 as the landmark IPO progresses.
