Jio IPO attracts Rs 70,000 crore in bids on day 1, outpaces LIC, NSE
Benchmarks Nifty22,811.35-77.61FEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.76 % Invest NowFEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.76 % Invest NowEnter search…
The initial public offering of Jio Platforms has attracted impressive attention, with an oversubscription of 3.16 times. Institutional investors were particularly keen, subscribing at a rate of 9.42 times, while retail investors opted for a 0.73 times rate. Non-institutional interest was stronger at 1.68 times. The company plans to allocate a large share of the funds toward debt clearance, reflecting optimistic perceptions of Jio Platforms' future.
Listen to this article in summarized format
Loading...×Mumbai: The ₹30,213-crore initial public offering (IPO) of Jio Platforms, the largest in Indian corporate history, was subscribed 3.16 times on Wednesday. The issue was fully subscribed within 100 minutes, driven by strong demand from institutional investors. The IPO will remain open until Friday.Investors placed bids for 623.6 million shares against 197.5 million shares on offer, with the bids valued at ₹69,800 crore at the upper end of the price band, according to combined data from both stock exchanges as of 7 pm on Wednesday. The IPO is priced at ₹1,065-1,119 per share.
The qualified institutional buyers' (QIB) portion was subscribed 9.42 times, with bids for 461.5 million shares against 49 million shares reserved for the category. The non-institutional investors' (NII) portion was subscribed 1.68 times, receiving bids for 61.2 million shares against 36.4 million shares on offer.
The retail portion was subscribed 0.73 times, with bids for 61.7 million shares against 85 million shares reserved for the category. The employee quota was subscribed 1.36 times, while the shareholder portion was subscribed 1.46 times.
According to Prime Database, the ₹11,605-crore LG Electronics IPO in October last year was the only other Indian public issue exceeding ₹10,000 crore to have been fully subscribed on its opening day.
Live Events
Other mega IPOs, including Tata Capital, Life Insurance Corporation of India (LIC), General Insurance Corporation of India and the National Stock Exchange of India (NSE), had recorded lower first-day subscriptions.
Read more: Jio IPO Day 1: Issue subscribed 3 times on strong QIB push; retail portion booked 68%. Check GMP
Jio Platforms is the digital and telecom arm of Reliance Industries, led by billionaire Mukesh Ambani.
On Monday, Jio Platforms' ₹8,110-crore anchor book attracted institutional demand exceeding ₹2.5 lakh crore, translating into a subscription of more than 30 times. The company plans to raise ₹30,213 crore through a fresh issue of up to 270 million equity shares, with no offer for sale.
Read more: Sundaram Mutual Fund announces launch of Equity Ex-Top 100 Long Short Fund through its SIF platform Select
Jio Platforms plans to use up to ₹27,500 crore of the proceeds to repay or prepay borrowings of its subsidiary Reliance Jio Infocomm, with the balance earmarked for general corporate purposes.
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onreliance industriesJio Platforms IPOJio IPO subscriptionReliance IndustriesIndian IPO marketMukesh Ambanireliance jio infocommqibnselic
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onreliance industriesJio Platforms IPOJio IPO subscriptionReliance IndustriesIndian IPO marketMukesh Ambanireliance jio infocommqibnselic
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...morelessPrime ExclusivesInvestment IdeasStock Report PlusePaperWealth EditionThe global business of promising more
One company, 2 words. Bond yield and CDS: Will they decide the fate of global markets?
Business of Odd Things: Inside an industry that farms fish that nobody is meant to eat
War's second-order effects are becoming visible in critical sectors
US mid-term elections – Part 2: What does it mean for Trump to lose control of Congress?
Homebuyers wait as NCLT panel picks holes in unfinished Jaypee projects
- 1
- 2
- 3
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET
Unlock Access to All Exclusives with ETPrime FREE TRIAL
15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers
Trial offer expiring in00 : 05 : 00
I'd rather pay ₹2599 nowUh-oh! This is an exclusive story available for selected readers only.
Worry not. You’re just a step away.
Prime Account Detected!
It seems like you're already an ETPrime member with
Login using your ET Prime credentials to enjoy all member benefits
Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.
Unlock ETPrime's Exclusive Stories Today!
Big Price Drop! Flat 40% Off
Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In nowOffer Exclusively For You
Save up to Rs. 700/-
ON ET PRIME MEMBERSHIP
Avail OfferOffer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail OfferOffer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail OfferOffer Exclusively For You
Get Flat 40% Off
Then ₹ 1749 for 1 year
Avail OfferOffer Exclusively For You
ET Prime at ₹ 49 for 1 month
Then ₹ 1749 for 1 year
Avail OfferSpecial Offer
Get flat 40% off on ETPrime
Avail OfferAvail OfferClaim NowAlready a Member? Sign In nowNeed Assistance?
Connect with an ETPrime expert for personalized support and guidance
+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '' + h3 + '
' + h4 + '
- ' + listing + '
What’s Included with
ETPrime Membership
1Exclusive Insights That Matter
Uncover the truth with our investigative stories
Make strategic moves using the real-world case studies
Read industry-specific stories to identify emerging trends
Spot opportunities with in-depth insights that matter
Trump temper on H-1B visas is forcing Indians to do these things to stay put in US
What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.
Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?
The problem with lab grown diamonds
Why a falling rupee is a better option for the economy
A list of top 20 momentum stocks that have delivered massive returns in one year
2Invest Wisely With Smart Market Tools & Investment Ideas
Alpha Trade
Get daily trade ideas from SEBI-registered research analysts.
Investment Ideas
Grow your wealth with stock ideas & sectoral trends.
Stock Reports Plus
All-in-one stock research with Stock Score, peer comparison & key signals.
BigBull Portfolio
Get to know where the market bulls are investing to identify the right stocks.
Stock Analyzer
Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.
Market Mood
Analyze the market sentiments & identify the trend reversal for strategic decisions.
Stock Talk Live at 9 AM Daily
Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.
3Stay informed anytime, anywhere with ET ePaper
ePaper - Print View
Read the PDF version of ET newspaper. Download & access it offline anytime.
ePaper - Digital View
Read your daily newspaper in Digital View & get it delivered to your inbox everyday.
Wealth Edition
Manage your money efficiently with this weekly money management guide.
TOI ePaper
Read the PDF version of TOI newspaper. Download & access it offline anytime.
Deep Explainers
Explore the In-depth explanation of complex topics for everyday life decisions.
Health+ Stories
Get fitter with daily health insights committed to your well-being.
Personal Finance+ Stories
Manage your wealth better with in-depth insights & updates on finance.
5Enjoy Complimentary Subscriptions From Top Brands
Stream new documentaries from all across the world every day.
Stories you might be interested in
Figures reflect the source report and its stated period. This article is for information and is not investment advice.