Zerodha and True Beacon co-founder Nikhil Kamath expects Jio Platforms' initial public offering (IPO) to open well, citing strong investor demand that far exceeds supply.
In an interview with CNBC-TV18, Kamath said the issue was emerging as a bright spot in a tough market. "If that is any kind of indication of how the IPO is going to turn out, I think the demand far outweighs the supply as it stands. So things are looking good. I think the IPO will open well," he said.
Kamath said Jio Platforms had played a significant role in building India's internet ecosystem by providing the infrastructure that has helped internet companies grow.
Rainmatter, Kamath's investment platform, participated in the IPO's anchor book. He said the platform had sought an exposure of Rs 500 crore but received an allocation of Rs 25 crore.
"We were trying to get Rs 500 crore of exposure, and we have gotten Rs 25 crore," he told CNBC-TV18.