Jio IPO: QIB portion fully subscribed at over 2x demand within minutes
Jio Platforms IPO is open for subscription from October 21 to October 23. The company, which houses the telecom and digital businesses of the Mukesh Ambani-led group, plans to issue around 27 crore shares at a price band of Rs 1,065 to Rs 1,119 per share. The offering is expected to raise approximately Rs 30,213 crore.
Jio Platforms' Initial Public Offering (IPO) saw the Qualified Institutional Buyers (QIB) segment in high demand, with subscriptions exceeding twice the allocated shares within just minutes of the issue opening on Wednesday. The QIB portion, amounting to 4,90,07,827 shares, witnessed bids matched to the available allocation within a mere ten minutes.
Demand for this segment surpassed the reserved amount by 2.86 times by 10 am, according to sources. The offering, billed as India's largest public issue, will see Jio Platforms issue around 27 crore shares at a price range of Rs 1,065 to Rs 1,119 per share, raising approximately Rs 30,213 crore. Upon completion, Jio Platforms is expected to achieve a market capitalization of around Rs 10.3 lakh crore, making it the largest IPO in India.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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