Jio platforms IPO attracts Rs 7.4 lakh crore in bids, sets global record

KOCHI: Jio Platforms’ initial public offering (IPO), worth Rs 30,213 crore, closed on October 23 with a record response, attracting approximately 1.39 crore applications over three days. It set a global record for the number of applications received by an IPO.

The issue was subscribed 22.19 times, with bids for the public offering alone exceeding Rs 4.9 lakh crore. Total demand, including the anchor investor book, crossed Rs 7.4 lakh crore.

The anchor book attracted bids exceeding Rs 2.5 lakh crore. The qualified institutional buyers (QIB) category was subscribed 70.55 times, while the retail investor category was subscribed 2.72 times. The non-institutional investor category was subscribed 14 times.

The share allotment is scheduled for October 26, with shares to be credited to demat accounts on October 27. The stock is scheduled to list on the BSE and NSE on October 28.