Jio Platforms IPO crosses 1 crore applications, setting a reported global record.
IPO subscription reaches 16.21 times, led by QIB demand at 47.09 times.
Anchor investors commit ₹8,110 crore as total IPO demand exceeds ₹5.5 lakh crore.
Jio IPO Draws 1 Cr Applications As Subscription Hits 16.21 Times
Jio Platforms’ ₹30,213-crore IPO has surpassed Waaree Energies’ previous record of around 97 lakh applications, with institutional investors driving subscription to 16.21 times by 4 pm on October 23
Jio Platforms IPO Draws 1 Crore Applications As Subscription Hits 16.21 Times
Summary
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Jio Platforms initial public offering (IPO) has received more than 1 crore applications, setting a global record for an IPO, with only a few hours of bidding remaining on October 23.
According to exchange data, the offering has surpassed the previous reported record of around 97 lakh applications received by Waaree Energies Ltd. Other Indian IPOs that attracted exceptionally high application numbers include Bajaj Housing Finance Ltd and Bharat Coking Coal Ltd, which each received around 90 lakh applications.
The final application count could rise further before the issue closes, potentially widening the gap between Jio Platforms and previous record-holders.
As of 4 pm on October 23, the IPO had been subscribed 16.21 times, with bids for 19.75 crore shares on offer.
QIB Demand Drives Jio Platforms IPO Subscription
Qualified institutional buyers (QIBs) led demand for the offering, subscribing to their reserved portion 47.09 times. They bid for 230.8 crore shares against 4.9 crore shares allocated to the category.
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The non-institutional investor (NII) portion was subscribed 13.66 times, with bids for 49.79 crore shares against 3.64 crore shares on offer.
Retail individual investors subscribed to their portion 2.57 times, placing bids for 21.81 crore shares against 8.5 crore shares reserved for the category.
The IPO had already attracted strong demand on its opening day on October 21, when the issue was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India.
Anchor Investment
Jio Platforms allotted shares worth ₹8,109.85 crore to 212 anchor investors at the upper end of its price band of ₹1,065-₹1,119 per share.
Institutional demand for the anchor book reached around ₹2.5 lakh crore, more than 30 times the amount available under the allocation.
Overall demand for the IPO exceeded ₹5.5 lakh crore, combining bids worth more than ₹3 lakh crore during the public offering with approximately ₹2.5 lakh crore in anchor investor demand.
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The IPO closes on October 23, while the company’s shares are expected to list on October 28