Reliance-Backed Jio Platforms IPO Sees Strong Investor Response on First Day

New Delhi, October 21 (Daily Kiran) : Jio Platforms, supported by Reliance Industries, launched its initial public offering (IPO) worth ₹30,213 crore on Wednesday, and it was fully subscribed on the very first day. Investor demand surged, resulting in the issue being oversubscribed by 2.5 times.

By around 3:15 PM, the portion reserved for qualified institutional buyers (QIBs) was filled 7.46 times, indicating robust interest from major investors. The non-institutional investors’ (NII) quota was subscribed 1.32 times, while retail investors submitted applications for up to 60% of the reserved category.

The segment reserved for Reliance shareholders also saw a positive response, with applications received for 2,59,57,068 shares against 2,23,41,376 available shares, resulting in a subscription of 1.16 times. Additionally, the quota for employees was fully subscribed.

Overall, this IPO, one of the largest in India, received bids for 49.56 crore shares compared to the 19.75 crore shares on offer. Earlier in the week, the company raised ₹8,109.84 crore from anchor investors.

Prominent global sovereign funds and pension funds participated in the anchor investor round, including Singapore’s GIC, Norges Bank Investment Management, Abu Dhabi Investment Authority, and Qatar Investment Authority. Domestic institutional investors such as SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund also made significant investments.

Insurance and pension funds, including LIC, HDFC Life, SBI Life, and ICICI Prudential, were among those who contributed as well.

This IPO will remain open for investors until October 23. The company has set the issue price band between ₹1,065 and ₹1,119 per share, with a maximum of 27 crore new shares being issued. The allocation of shares is expected to be finalized by October 26, and the company’s shares may be listed on the BSE and NSE on October 28.