Jio Platforms IPO Day 2 — retail portion fully subscribed by 11 am, issue booked 3.47 times
The Rs 30,213-crore Jio Platforms IPO saw its retail portion fully subscribed by 11:00 am on the second day of bidding, with overall demand at 3.47 times and the grey market premium holding at about 22 per cent.
The retail portion of Jio Platforms’ Rs 30,213-crore initial public offering was fully subscribed by 11:00 am on Thursday, within two hours of the second day of bidding opening, according to BSE data (The Hindu).
Qualified institutional buyers continued to lead demand at 9.42 times their reserved quota, followed by non-institutional investors at 2.34 times, eligible shareholders at 2.06 times and employees at 1.61 times. Overall the issue was subscribed 3.47 times at 11:00 am on Day 2.
Wednesday’s opening session was fully subscribed within 100 minutes, making it India’s fastest-subscribed mega public issue, with investors placing bids worth about Rs 69,800 crore for 62.36 crore shares by 5 pm (The Hindu). The three-day offering closes on October 23.
In the grey market, the IPO’s premium stood at Rs 246 per share as of 8:30 am on October 22 — about 22 per cent above the upper price band of Rs 1,119 — implying an indicative listing price of Rs 1,365 per share, the Economic Times reported (Economic Times).
The issue carries a price band of Rs 1,065–1,119 per share with a lot size of 12 shares, meaning retail investors need a minimum of Rs 13,428 to apply for one lot at the upper end (News18).
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