Paras Healthcare and Jio Platforms were the two big-ticket issues that hit the Indian primary market today, October 21, but it was the latter that stole the spotlight and remained in the headlines throughout the day.
The ₹30,213-crore initial public offering (IPO) of Jio Platforms received a bumper response from investors, as it was fully booked within hours of opening, reflecting encouraging demand from the Street.
The much-anticipated offering became the fastest among the country's mega issues to achieve full subscription, reaching 100% booking within 100 minutes of opening on Wednesday.
Coincidentally, the last time the market witnessed similar enthusiasm was during the Reliance Power IPO, which was fully booked within a minute of opening in 2008.
The strong institutional response followed an equally robust anchor-investor book. Jio allotted shares worth about ₹8,110 crore to 212 anchor investors at ₹1,119 apiece on Monday. Demand for the anchor allocation exceeded ₹2.5 lakh crore, PTI reported, citing people familiar with the matter.