Jio Platforms' Rs 30,230-crore initial public offering entered its second day of bidding on October 22. The issue got a strong response, with total demand reaching Rs 3.2 lakh crore. Institutional investors led the interest, and the IPO remains open for subscription until October 23. Many investors showed early support.
Jio Platforms Ltd’s Rs 30,230-crore initial public offering has attracted total demand of about Rs 3.2 lakh crore, combining interest from anchor investors ahead of the issue with bids received on the first day of public subscription. The company’s anchor book drew demand of more than Rs 2.5 lakh crore, over 30 times the shares available to anchor investors. Jio allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the upper end of its price band. (Read More)
The strong response followed Jio Platforms' Rs 8,109.84-crore anchor book, which saw participation from 212 investors on October 19.
Major global investors included Singapore's GIC, Norges Bank Investment Management, Abu Dhabi Investment Authority, Qatar Investment Authority, PSP Investments, the California State Teachers' Retirement System and the Florida Retirement System.
The issue received bids for 62.36 crore shares against 19.75 crore shares on offer, according to the latest exchange data.
The qualified institutional buyers (QIB) portion was subscribed 9.42 times, while the non-institutional investor (NII) category was subscribed 1.68 times. The shareholder reservation portion was subscribed 1.46 times and the employee portion 1.37 times. Retail individual investors (RIIs), however, bid for 0.73 times the shares reserved for them.
Good morning and welcome to Moneycontrol. After a blockbuster opening day, Jio Platforms' Rs 30,200-crore initial public offering (IPO) enters its second day of bidding today, October 22, with the issue subscribed 3.16 times on the first day, as institutional investors led the demand for India's biggest IPO.
The IPO will remain open for subscription until October 23.