Jio Platforms Ltd’s Rs 30,230-crore initial public offering has attracted total demand of about Rs 3.2 lakh crore, combining interest from anchor investors ahead of the issue with bids received on the first day of public subscription.
The company’s anchor book drew demand of more than Rs 2.5 lakh crore, over 30 times the shares available to anchor investors. Jio allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the upper end of its price band.
Investors also bid for shares worth Rs 69,713 crore on the first day of public subscription on October 21, taking the issue to 3.1 times subscription. The demand makes it the highest-value bid among Indian IPOs that raised more than Rs 15,000 crore, based on the figures available.
On October 21, investors bid for 62.3 crore shares of Jio Platforms against 19.75 crore shares on offer, according to exchange data updated at 7 pm. The IPO has set a new benchmark for subscription pace among Indian public offerings, with institutional investors leading demand for the country's largest-ever IPO.
Jio Platforms has allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the top end of its price band, after institutional demand for the offering exceeded Rs 2.5 lakh crore, more than 30 times the amount available in the anchor book.