Reliance Jio IPO Sees Strong Demand on Day 2 with 5.57x Subscription
The Reliance Jio IPO continues to attract significant investor interest, achieving a subscription rate of 5.57 times on its second day.
The IPO was subscribed 5.57 times on day 2, up from 3.16 times on day 1.
Qualified institutional buyers showed robust demand, with a subscription rate of 13.29x on day 2.
Retail investors fully subscribed the issue by 1.54 times by the end of day 2.
The Reliance Jio IPO has demonstrated remarkable investor interest, achieving a subscription rate of 5.57 times on its second day of bidding, which took place on October 22. This follows a strong opening day where the IPO was subscribed 3.16 times. The offering, backed by Mukesh Ambani's Reliance Industries Limited, has drawn a total demand of approximately ₹3.73 lakh crore, indicating a significant appetite from various investor categories.
On the first day of the IPO, the qualified institutional buyers (QIBs) exhibited strong participation, with a subscription rate of 9.42 times. This interest intensified on day two, where the QIB segment subscription surged to 13.29 times, according to data from the Bombay Stock Exchange (BSE). Such figures underscore the confidence institutional investors have in the Jio Platforms' growth potential.
In addition to QIBs, non-institutional investors (NIIs) also showed notable engagement. The IPO was subscribed 5.97 times in the NII category on day two, reflecting a growing interest from this segment. Furthermore, the retail investor segment saw the IPO fully subscribed by 1.54 times by the end of the second day, indicating a robust demand from individual investors.
The subscription figures also highlight participation from specific categories, including Reliance Industries Limited shareholders and employees. The employee reserved segment was subscribed approximately 2.10 times, while the RIL shareholders' quota saw a subscription rate of around 4.05 times. This diverse interest across categories suggests a strong belief in the company's future performance.
Looking ahead, the Reliance Jio IPO is expected to continue attracting attention as the subscription period progresses. Investors will be keenly watching the grey market premium, which today suggested potential listing day gains of 21.81%. As the offering unfolds, further updates on subscription rates and investor participation will be crucial for gauging overall market sentiment.
