Jio Platforms IPO Subscribed 22.19 Times, Draws Record 1.35 Crore Applications

The Jio Platforms IPO closed on 23 October after three days of bidding, with investors bidding for 438.26 crore shares against 19.75 crore on offer, an overall subscription of 22.19 times.

By category, qualified institutional buyers bid 70.55 times their portion, non-institutional investors 14 times and retail investors 2.72 times. The shareholder and employee quotas were subscribed 7.60 times and 2.93 times. The issue is worth ₹30,213 crore, an entirely fresh issue with no offer for sale, with a price band of ₹1,065–1,119 per share. Anchor investors had put in about ₹8,110 crore on 19 October.

The issue received more than 1.35 crore applications, which reports describe as the first IPO anywhere to cross one crore applications; the earlier record was about 97 lakh. Allotment is expected on 26 October, refunds and share credit on 27 October, and listing on BSE and NSE on 28 October, subject to the exchanges’ confirmation.

This is a news report, not investment advice. Source: IPO subscription data as reported by Daijiworld and HDFC Sky.