Jio Platforms IPO Subscribed 3.65X On Day 2 So Far, Retail Portion Fully Booked

Reliance Industries' digital services arm, Jio Platforms, experienced strong demand for its IPO as investors subscribed 3.65 times the shares on the second day of bidding. Institutional investors took the lead, with the retail portion fully booked. Over 72 crore shares were offered, but investors bid for 72.05 crore shares. QIBs, which accounted for 9.42 times the shares, received bids for 46.16 crore shares against their allocation.

Domestic financial institutions, including banks and insurance companies, bought 25.92 crore shares, followed by foreign institutional investors at 16.18 crore shares and mutual funds at 3.19 crore shares. Non-institutional investors subscribed to the portion 2.85 times, with bids for 10.38 crore shares against a reservation of 3.64 crore shares.

Within this, the portion for bids exceeding ₹10 lakh was subscribed 3.06 times, while the portion for bids above ₹2 lakh and up to ₹10 lakh was booked 2.43 times. Retail investors subscribed for 9.39 crore shares against an allocation of 8.50 crore shares, indicating a 1.10 times subscription. The employee and shareholder portions were subscribed 1.71 times and 2.38 times, respectively.

Jio Platforms aims to surpass Hyundai Motor India's ₹27,870 Cr offering as India's largest IPO, with a price band of ₹1,065-₹1,119 per share.