Jio Platforms IPO fully subscribed within 100 minutes
Jio Platforms’ ₹30,213 crore initial public offering was fully subscribed within 100 minutes of opening on Wednesday, October 21.
The offer has a price band of ₹1,065 to ₹1,119 per share.
Demand came quickly from Qualified Institutional Buyers, whose portion of the issue was fully subscribed in the first 10 minutes.
That portion reached 2.86 times subscription, while the overall offer had initially reached 0.83 times before crossing full subscription within 100 minutes.
The rapid take-up made it the fastest-ever subscribed IPO, the figures showed.
Moody’s called the IPO credit positive for Reliance Industries, saying it would help with debt repayment and provide more funding flexibility.
Reliance’s elevated capital expenditure remains a key funding consideration. The figures available establish that the issue crossed full subscription, but do not give a final total for bids or allocations.
Reporting
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