Jio Platforms Limited has successfully received over 1 crore applications in its initial public offering (IPO), setting a new world record in this regard. This public offering, which is nearing its end on Friday, has faced a demand of 7.83 times the number of shares offered.
Strong Demand from Investors
According to stock exchange data, this IPO is recognized as the first public offering globally to reach over 1 crore applications, breaking the previous record held by Waaree Energies' public offering with around 97 lakh applications. Recent data from the National Stock Exchange of India (NSE) shows that demand has been registered for approximately 154.62 crore shares, while only 19.75 crore shares were allocated for this public offering, indicating strong demand among various categories of investors.
Strong Response from Institutional Buyers
Qualified institutional buyers (QIBs) have responded particularly positively to this public offering, with this segment subscribing 16.58 times the shares allocated. This group has registered demand for approximately 81.28 crore shares, while only 4.90 crore shares were allocated to them. Additionally, the non-institutional investor (NII) segment has subscribed 10.87 times the available shares, requesting 39.63 crore shares.
Among this category, demand for bids over 10 lakh rupees has been 12.48 times, and for bids between 2 lakh and 10 lakh rupees, it has been 7.66 times. Retail investors (RIIs) have also requested approximately 18.53 crore shares, which is 2.18 times the available shares.
Considering the first day performance of this public offering on October 21, where it was fully subscribed within 100 minutes, strong demand is clearly evident. Furthermore, the company has attracted significant demand for its 8,110 crore rupee allocation, with institutional demand exceeding 2.5 lakh crore rupees, which is more than 30 times the proposed amount.
Jio Platforms has set the public offering price in the range of 1,065 to 1,119 rupees per share, with a minimum subscription of 12 shares.
