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

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

Reliance Industries’ digital services arm Jio Platforms’ IPO was subscribed 3.65X on the second day of bidding, with institutional investors leading demand and the retail portion crossing full subscription.

Investors bid for 72.05 Cr shares against 19.75 Cr shares on offer as of 12:03 IST, according to BSE data.

The qualified institutional buyers’ (QIBs) portion was subscribed 9.42X, receiving bids for 46.16 Cr shares against an allocation of 4.91 Cr shares. Domestic financial institutions, including banks and insurance companies, accounted for 25.92 Cr shares, followed by foreign institutional investors at 16.18 Cr shares and mutual funds at 3.19 Cr shares.

The non-institutional investors’ (NIIs) portion was subscribed 2.85X, getting bids for 10.38 Cr shares against 3.64 Cr shares reserved for the category. Within this, the portion for bids exceeding ₹10 Lakh was subscribed 3.06X, while that for bids above ₹2 Lakh and up to ₹10 Lakh was booked 2.43X.

Retail investors bid for 9.39 Cr shares against an allocation of 8.50 Cr shares, translating to 1.10X subscription. The employee and shareholder portions were subscribed 1.71X and 2.38X, respectively.

On its first day of bidding yesterday, the public issue was subscribed 3.15X, driven by strong demand from institutional investors.

Jio Platforms has set a price band of ₹1,065-₹1,119 per share for the IPO, which closes tomorrow. The ₹30,213 Cr (about $3.2 Bn) offering is set to surpass Hyundai Motor India’s ₹27,870 Cr issue as India’s largest IPO.

3 Lakh Cr (about $108 Bn).



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