Jio IPO subscribed 3.16 times on Day 1; draws Rs 69,800 crore in bids - The Times of India
Jio Platforms marked a historic debut in India's capital market, with its massive initial public offering achieving full subscription in just 100 minutes. By the close of the first day, the offering drew a remarkable response, receiving bids for 3.16 times the shares on offer. Total demand reached nearly Rs 69,800 crore from day-one biddings alone, and when combined with commitments secured from anchor investors earlier in the week, total figures scaled to roughly Rs 77,892 crore. Institutional investors spearheaded the momentum, while both the employee and shareholder portions witnessed strong demand. The public issue features a completely fresh equity structure with a fixed price band, aiming to raise significant capital directly for company expansion rather than serving as an offer for sale by existing stakeholders.
The Key points
- Jio Platforms' initial public offering achieved full subscription within 100 minutes of opening.
- The issue was subscribed 3.16 times the available shares on its very first day.
- Total day-one bidding value touched approximately Rs 69,800 crore across various categories.
- Total cumulative demand reached Rs 77,892 crore including anchor investor commitments.
- Qualified institutional buyers led the market interest, subscribing 9.42 times their allocated portion.
- Non-institutional investors subscribed 1.68 times the shares reserved for them.
- The employee quota and shareholder categories recorded 1.37x and 1.46x subscriptions respectively.
- The offering consists entirely of a fresh issue of 27 crore shares.
- The price band for the public offering was set between Rs 1,065 and Rs 1,119 per share.
- Parent company Reliance Industries did not sell any existing shares through this offering.
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