Jio Platforms IPO’s institutional quota fills in minutes
Dubai: The institutional portion of the Jio Platforms initial public offering (IPO) was fully subscribed within 28 minutes of opening on October 21, NSE data shows. Qualified institutional buyers bid for 2.86 times the shares reserved for them. Non-institutional investors took up 16 per cent to 18 per cent of their quota. While retail demand reached 14 per cent to 16 per cent, and the overall…
UAE residents seeking to apply for the Jio Platforms IPO can do so via their Non-Resident Indian (NRI) or Non-Resident Ordinary (NRO) accounts. The offering, which is India's largest share sale to date, is expected to raise $3.2 billion through the institutional quota alone. The price band for the shares is Rs 1,065 to Rs 1,119 per share, and bidding closes on October 23 with shares listed on October 28.
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