Mumbai: Jio Platforms' Rs 30,213 crore initial public offering (IPO) witnessed overwhelming investor interest, attracting reported bids worth Rs 3.73 lakh crore by the second day of subscription.
According to stock exchange data, the IPO was subscribed 5.57 times, with institutional investors leading demand for India's biggest public issue.
Jio IPO Day 2 Subscription Status
Qualified Institutional Buyers (QIBs) led the subscription, with their reserved portion booked 13.29 times. Non-Institutional Investors (NIIs) subscribed 5.97 times, while the retail investor category received 1.54 times subscription. The employee quota was subscribed 2.10 times, while the shareholder reservation portion attracted 4.05 times bids.
Jio IPO Anchor Investors Show Strong Interest
Ahead of the public offering, Jio Platforms raised approximately Rs 8,110 crore from 212 anchor investors on October 19. Shares were allotted at Rs 1,119 apiece, the upper end of the IPO price band. Major investors included BlackRock, Fidelity Investments, GIC and Abu Dhabi Investment Authority. The anchor book reportedly attracted demand exceeding Rs 2.5 lakh crore.
Jio IPO Price Band And Listing Date
The Jio Platforms IPO opened on October 21 and closes on October 23. The company fixed its price band at Rs 1,065–1,119 per share, with listing scheduled for October 28. The offering comprises fresh equity shares, with proceeds intended primarily for debt repayment at Reliance Jio Infocomm.
India's Largest IPO Creates New Record
Jio Platforms' IPO surpasses Hyundai Motor India's Rs 27,870 crore public offering in issue size. The company, backed by Reliance Industries, has an estimated valuation of USD 108 billion at the upper price band.
Its 533.3 million customer base supports expansion ambitions across telecom, cloud computing and artificial intelligence. Investors will now watch the final subscription figures as bidding concludes.
