Reliance Jio IPO: Reliance Industries-backed Jio Platforms has created a global record in the primary market, becoming the first initial public offering (IPO) worldwide to attract more than 1 crore applications. The landmark milestone was achieved on Friday, October 23, with four hours of bidding remaining, as investors rushed to participate in one of India's most closely watched public offerings.
The previous record belonged to Waaree Energies, which received approximately 97 lakh applications during its three-day subscription period. Bajaj Housing Finance and Bharat Coking Coal followed, having attracted nearly 90 lakh applications each.
The Jio Platforms offering has also drawn significant institutional interest. The company has received aggregate demand exceeding ₹4 lakh crore, comprising approximately ₹2.5 lakh crore from anchor investors and another ₹1.5 lakh crore from public investors.
The issue was bid for 156.58 crore shares as against 19.75 crore shares on offer.
The strong subscription figures came after institutional demand for the anchor investor portion exceeded ₹2.5 lakh crore, more than 30 times the amount available in that segment.