Jio IPO Secures Record ₹95,500 Crore in First-Day Bids
Jio Platforms Ltd's IPO achieves unprecedented demand on its opening day, setting a new benchmark for Indian public offerings.
Jio's IPO attracted bids worth ₹95,500 crore on its first day, the highest ever for an Indian IPO.
The total demand for the IPO reached ₹3.45 lakh crore, with institutional investors leading the charge.
The subscription period ends on October 23, with the listing anticipated on October 28.
Jio Platforms Ltd's initial public offering (IPO) has made headlines by attracting an astonishing ₹95,500 crore in bids on its first day, marking a new record for Indian public issues. This figure surpasses any previous bids for IPOs in India that raised over ₹15,000 crore, demonstrating the immense interest from investors.
The IPO, which is valued at ₹30,230 crore, has generated total demand of ₹3.45 lakh crore, with ₹2.5 lakh crore coming from the anchor book alone. This level of interest is unprecedented, especially when compared to Hyundai Motor India's IPO in October 2024, which received ₹66,000 crore in bids over three days. On Day 1, Jio's offering was subscribed 3.1 times, indicating a robust appetite from the market.
In terms of overall demand, LG Electronics holds the record with an aggregate demand of ₹6.2 lakh crore for its ₹11,607-crore IPO, achieving a staggering 54 times subscription. However, Jio's IPO has set a new standard for subscription speed, with institutional investors showing significant interest. The portion reserved for qualified institutional buyers was subscribed 9.4 times, with bids for 46.1 crore shares against 4.9 crore shares available.
The demand from non-institutional investors also saw a notable increase, with their segment subscribed 1.68 times. Retail investors, however, subscribed at a lower rate of 0.73 times, with bids for 6.1 crore shares against 8.5 crore shares allocated for them. Additionally, employee and shareholder reservations were subscribed 1.36 times and 1.46 times, respectively, indicating diverse interest across different investor categories.
Jio Platforms has allocated shares worth ₹8,109.85 crore to 212 anchor investors at the upper end of its price band, following institutional demand that exceeded ₹2.5 lakh crore, more than 30 times the amount available in the anchor book. The subscription for the Jio IPO will conclude on October 23, with the listing of shares expected on October 28, marking a significant event in the Indian financial landscape.
