Mumbai, Oct 22: Investor demand for Jio Platforms’ `30,213-crore initial public offering (IPO) surged on Thursday, with the issue subscribed 5.57 times by 7 pm on the second day of bidding. The offering attracted more than 7.5 million applications over two days, with institutional investors leading the demand.
The Qualified Institutional Buyers (QIB) portion was subscribed 13.29 times, while the retail investor portion was subscribed 1.54 times. The IPO had received subscriptions of 3.16 times on the opening day.
Investors bid for more than 110 crore shares against 19.75 crore shares on offer in the non-anchor portion, translating into bids worth approximately `1.23 lakh crore. Including bids worth around `2.50 lakh crore from anchor investors, the total value of bids reached approximately `3.73 lakh crore.
Demand remained strong across investor categories. The Non-Institutional Investors (NII) portion was subscribed 5.97 times, while the portions reserved for employees and Reliance Industries shareholders were subscribed 2.10 times and 4.05 times, respectively. All major investor categories had crossed the full subscription mark by the end of the second day.
The sharpest increase in demand on Thursday came from non-institutional investors and Reliance Industries shareholders. Subscription in the NII category rose from 1.68 times on the first day to 5.97 times on the second day. The shareholder portion also recorded a significant increase, climbing from 1.46 times to 4.05 times.
With one day remaining, the IPO is scheduled to close on Friday, October 23. Eligible investors can continue submitting applications until the closing date.
