Jio Platforms IPO subscribed 5.57 times on Day 2 on strong interest
The Jio Platforms initial public offering has ignited substantial investor interest, achieving a remarkable 5.57 times subscription on the second day alone. Fully subscribed by retail investors, this reflects a strong demand, while institutional bidders have led the pack with a striking 13.29 times subscription rate. Proceeds from the IPO will support the repayment of debts and various corporate…
On the second day of the Jio Platforms IPO, investors showed strong interest with subscriptions reaching 5.57 times, according to the combined data from both exchanges. The retail investors' portion was fully subscribed, while the Qualified Institutional Buyers (QIB) segment was subscribed 13.29 times. The Non-Institutional Investor (NII) segment saw a subscription of 5.97 times.
Retail investors bid for 130.9 million shares, subscribing at a rate of 1.54 times. The company, led by Mukesh Ambani's Reliance Industries, is raising up to ₹27,500 crore to repay borrowings and use the rest for general corporate purposes.
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