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Retail Portion of Jio Platforms’ IPO Fully Subscribed
Institutional buyers drove the rush, with the qualified institutional buyer portion subscribed 9 times and the issue fully covered in 100 minutes, exchange data showed.
On Wednesday, Jio Platforms Ltd's Rs 30,213-crore IPO was fully subscribed within 100 minutes, making it the fastest mega-issue in India to attract bids for all shares on offer.
This performance surpasses Hyundai Motor India's Rs 27,870-crore IPO, which was subscribed just 18 per cent by the end of its first day in 2024.
According to National Stock Exchange data at 5 pm on Wednesday, qualified institutional buyers drove the surge with their reserved portion subscribed 9 times against overall subscription of 3 times.
Unlisted shares are trading at a grey market premium of Rs 253, according to Investorgain, reflecting sustained investor enthusiasm for the IPO.
The offering remains open until Friday, October 23, while Jio aims to export its home-grown telecom technology stack, serving over 533 million customers in India.