Reliance Jio’s IPO (Initial Public Offering) has broken records, and it shows the kind of trust people have in the telecom giant. When the markets appeared slightly mute, Jio came and showed that when the fundamentals of a company are strong, and improving every year, people don’t care, they just invest. Jio sought to raise Rs 30,213 crore. However, the bids have come for Rs 7.4 lakh crore. This means, a lot of people will not get these shares. Let’s see what’s happening.

The combined bidding for the Jio shares crossed Rs 7.4 lakh crore, which includes Rs 4.90 lakh crore from the retail investors. This was just in a three day period, and the Jio IPO is now officially closed. The issue has been subscribed 22.19 times.

One of the records this Jio IPO broke was the 1 crore applications from the investors. In total there were 1.38 crore applications, and qualified institutional buyers (QIBs) led the charge by subscribing the portion more than 70.55 times.

If you applied as a retail investor, chances of you getting the shares will be between 35-50%. This is because the retail portion was subscribed 2.72 times. However, if you applied as a Reliance Industries shareholder, your chances of getting the subscription is even lower, because the reserved amount was very low. As for the qualified institutional buyers (QIBs), the odds are even lower, since there is a lot of competition.

Here’s the thing though. Jio shares hit the market in a few days, so even if you did not get the shares at the IPO, you can get them once they are in the stock exchanges available for trades.

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