Jio Platforms IPO Draws 3.56 Times Demand on Day 2

Jio Platforms’ initial public offering drew bids for 3.56 times the shares available by 11:25 a.m. on October 22, its second day of bidding, with qualified institutional buyers leading demand and retail subscriptions above their allocation. The 11:25 a.m. figures showed bids for 70.38 crore shares against 19.75 crore available. The qualified institutional buyer category was subscribed 9.42 times, while retail investors had bid for 1.05 times their reserved shares. Non-institutional investors reached 2.62 times, eligible shareholders 2.23 times and employees 1.05 times, according to that snapshot. An earlier snapshot, at about 11 a.m., put overall subscription at 3.47 times. It recorded QIB demand at 9.42 times and retail demand at 1.03 times, alongside 2.34 times for non-institutional investors, 2.06 times for shareholders and 1.61 times for employees. Subscription figures changed over the course of the morning; the two overall totals refer to different times. The issue is seeking to raise ₹30,213 crore, with a price band of ₹1,065 to ₹1,119 per share. Applications are in lots of 12 shares. Bidding opened October 21 and is scheduled to close October 23, 2026. The final...