Jio IPO subscribed 22.19 times, draws over 1 crore applications
The ₹30,213 crore initial public offering of Jio Platforms closed on Friday subscribed 22.19 times and drew more than 1 crore applications, according to stock exchange data.
The Jio IPO closed on Friday, 23 October, subscribed 22.19 times, with more than 1 crore applications, according to stock exchange data reported by DeshGujarat. The ₹30,213 crore issue by Jio Platforms Ltd has been described as India's biggest public issue.
Jio IPO in numbers
- Issue size: ₹30,213 crore, made up of 27 crore fresh shares
- Price band: ₹1,065 to ₹1,119 a share
- Opened: 21 October; fully subscribed within about 100 minutes
- Closed: 23 October
- Expected listing: 28 October, on BSE and NSE
Demand by investor category
Bids came in for 438.26 crore shares against 19.75 crore shares on offer. Qualified institutional buyers bid 70.55 times their quota, non-institutional investors 14 times, retail investors 2.72 times and employees 2.93 times.
Public bids were worth about ₹4.91 lakh crore. Before the issue opened, the company allotted about ₹8,110 crore of shares to 212 anchor investors.
A record for applications
More than 1 crore applications were received, and the final count could be higher. The previous reported record was about 97 lakh applications, for the Waaree Energies issue.
How the money will be used
Of the money raised, ₹27,500 crore is earmarked for repaying debt, with the rest for general corporate purposes.
What it means for investors
Allotment status can be checked on the registrar's website or the BSE and NSE sites once the basis of allotment is final. Analysts quoted in the report expect the company's market value to exceed ₹10 lakh crore after listing, but listing prices can move sharply either way. This is not investment advice.
