Jio Platforms' Rs 30,213-crore IPO hit 12.45x subscription by October 23, led by QIBs at 37.22x demand. The issue got bids for over 2.45 billion shares. Retail investors subscribed 1.71 times, while employees and shareholders also showed interest. Shares will list on the BSE and NSE on October 28.
Jio Platforms' Rs 30,213-crore initial public offering (IPO) attracted bids for 12.45 times the shares on offer, with qualified institutional buyers (QIBs) emerging as the strongest investor category, according to the NSE data. The issue received bids for 2,45,98,85,544 shares against 19,75,25,934 shares offered.
The subscription table, updated on October 23, shows QIB demand at 37.22 times, followed by non-institutional investors (NIIs) at 9.91 times. Retail individual investors subscribed to their reserved portion 1.71 times, while eligible Reliance Industries shareholders and employees recorded subscription multiples of 5.37 times and 1.87 times, respectively.
Jio IPO Subscription: Category-Wise Details
The QIB category received bids for 1,82,41,48,944 shares against 4,90,07,827 shares reserved, translating into a subscription of 37.22 times. Within this category, domestic financial institutions, including banks, financial institutions and insurance companies, bid for 85,27,48,680 shares. Foreign institutional investors bid for 66,06,54,804 shares.
The NII category attracted bids for 36,12,42,948 shares against 3,64,44,569 shares on offer. Applications above Rs 10 lakh were subscribed 11.31 times, while the segment covering bids above Rs 2 lakh and up to Rs 10 lakh recorded 7.12 times subscription.
Retail investors bid for 14,56,53,528 shares against 8,50,37,327 shares available to them, resulting in a subscription of 1.71 times. The employee category received bids for 87,95,640 shares against 46,94,835 shares offered.
The shareholder category, reserved for eligible Reliance Industries shareholders, attracted bids for 12,00,44,484 shares against 2,23,41,376 shares on offer, translating into a subscription of 5.37 times.
Jio IPO Draws Record Investor Applications
Separately, information provided on the offering reported that Jio Platforms' IPO attracted more than 13.8 million applications, setting a record for the number of applications received by an IPO globally. The issue reportedly drew approximately Rs 7.40 lakh crore in total bids, including anchor demand.
Jio IPO Allotment And Listing Date
Under the announced schedule, the basis of allotment is set for October 26, followed by credit of shares to successful applicants' demat accounts on October 27. Jio Platforms is scheduled to list on the BSE and NSE on October 28.