Business News | Jio Platforms IPO Sets Global Record with over 1 Crore Applications, Subscribed 7.83 Times
Get latest articles and stories on Business at LatestLY. Jio Platforms Limited’s initial public offering (IPO) has received more than 1 crore applications, setting a global record for an IPO, with bidding nearing its close on Friday, while the issue was subscribed 7.83 times, according to exchange data.
Mumbai (Maharashtra) [India], October 23 (ANI): Jio Platforms Limited’s initial public offering (IPO) has received more than 1 crore applications, setting a global record for an IPO, with bidding nearing its close on Friday, while the issue was subscribed 7.83 times, according to exchange data.
The IPO has become the first globally to cross the one-crore application mark, surpassing the previous reported record of around 97 lakh applications for Waaree Energies’ public issue.
The latest data from the National Stock Exchange (NSE) showed bids for around 154.62 crore shares against 19.75 crore shares reserved for the issue, reflecting strong demand across investor categories.
Qualified institutional buyers (QIBs) led the response, with their category subscribed 16.58 times. The segment received bids for around 81.28 crore shares against 4.90 crore shares reserved for them.
Also Read | Smita Jayakar Recalls Heartfelt Effort To Help Sushant Singh Rajput.
The non-institutional investor (NII) category was subscribed 10.87 times, with bids for around 39.63 crore shares against 3.64 crore shares on offer. Within this segment, applications involving bids above Rs 10 lakh were subscribed 12.48 times, while the category for bids between Rs 2 lakh and Rs 10 lakh was subscribed 7.66 times.
Retail individual investors (RIIs) bid for around 18.53 crore shares against 8.50 crore shares reserved for them, taking subscription in the category to 2.18 times.
The employee category was subscribed 2.59 times, with bids for around 1.22 crore shares against 46.95 lakh shares reserved. The shareholders’ category was subscribed 6.25 times, receiving bids for around 13.96 crore shares against 2.23 crore shares on offer.
The strong response builds on the IPO’s opening-day performance on October 21, when the issue was fully subscribed within 100 minutes of bidding, driven by institutional demand. At that stage, the issue had received around 13.56 lakh applications.
The company had also attracted substantial demand for its anchor allocation of Rs 8,110 crore. The allocation received aggregate institutional demand of more than Rs 2.5 lakh crore, exceeding the amount on offer by over 30 times, according to the company’s earlier announcement.
Jio Platforms had fixed the IPO price band at Rs 1,065 to Rs 1,119 per equity share, with a minimum bid lot of 12 shares. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)