Jio Platforms IPO Makes History: Over 1 Crore Applications, Subscribed 7.83 Times
Jio Platforms IPO makes history as the first to cross 1 crore applications, subscribing 7.83 times. Check out the investor category details here.
In a landmark event for the global financial markets, the Jio Platforms IPO subscription has shattered all previous records. The initial public offering (IPO) of Jio Platforms Limited has become the first in the world to cross the milestone of one crore applications, reflecting an unprecedented level of investor enthusiasm as bidding nears its close this Friday.
A Global Record-Breaking Debut
The scale of interest in Jio Platforms has eclipsed previous benchmarks, including the record held by Waaree Energies, which had seen approximately 97 lakh applications. According to data from the National Stock Exchange (NSE), the demand has been overwhelming, with bids pouring in for roughly 154.62 crore shares, while only 19.75 crore shares were reserved for the issue. This has resulted in the IPO being subscribed 7.83 times overall.
Breakdown of Investor Categories
The surge in demand was seen across all investor segments, though institutional buyers led the charge with massive appetite.
Qualified Institutional Buyers (QIBs)
The QIB category emerged as the strongest driver of the IPO, being subscribed 16.58 times. Bids in this segment reached approximately 81.28 crore shares against a reserved quota of 4.90 crore shares.
Non-Institutional Investors (NIIs)
The NII segment saw a subscription rate of 10.87 times, with bids for 39.63 crore shares against 3.64 crore shares on offer. This category was further split into two tiers:
- Bids above Rs 10 lakh: Subscribed 12.48 times.
- Bids between Rs 2 lakh and Rs 10 lakh: Subscribed 7.66 times.
Retail and Other Categories
Individual and internal stakeholders also showed significant interest:
- Retail Individual Investors (RIIs): This category was subscribed 2.18 times, with bids for 18.53 crore shares against 8.50 crore shares reserved.
- Shareholders Category: Subscribed 6.25 times, with 13.96 crore shares bid for against 2.23 crore shares available.
- Employee Category: Subscribed 2.59 times, receiving bids for 1.22 crore shares against a reservation of 46.95 lakh shares.
Rapid Momentum and Anchor Demand
The road to this record began with a blistering start on October 21. On the opening day of bidding, the issue was fully subscribed within just 100 minutes, primarily fueled by institutional demand. At that early stage, the IPO had already garnered around 13.56 lakh applications.
The momentum was further evidenced by the anchor allocation. While the company offered an anchor allocation of Rs 8,110 crore, it attracted a staggering aggregate institutional demand of over Rs 2.5 lakh crore—exceeding the offer by more than 30 times.
IPO Pricing Details
Jio Platforms had set the price band for the equity shares between Rs 1,065 and Rs 1,119, with the minimum bid lot fixed at 12 shares.