Jio Platforms IPO Fully Subscribed on First Day

Jio Platforms’ ₹30,213-crore initial public offering was fully subscribed on its first day, October 21, within 100 minutes of opening, according to exchange subscription data. The response was led by institutional investors, while early demand among retail and other individual categories remained below their allocations. Bidding is scheduled to continue through October 23, so first-day figures do not represent the final subscription levels. The offer, priced at ₹1,065 to ₹1,119 per share, is a fresh issue of up to 27 crore shares. At the top of the range, the company expects to raise about ₹30,213 crore. The sale is set to exceed Hyundai Motor India’s 2024 offering and become India’s largest IPO by value, based on the stated issue size. Qualified institutional buyers’ portion was fully subscribed within minutes and later drew bids for more than its allocated shares. Overall subscription figures rose as bidding progressed: exchange updates showed the offer below full subscription at one point before it crossed the threshold. The reported first-day retail subscription was still below the amount reserved for that category. Final demand across investor groups will be known after...