Jio Platforms IPO concluded the three-day bidding period on a historic note on Friday, October 23, with a whopping 22.19 times subscription, getting bids for 4,38,26,15,568 shares as compared to 19,75,25,934equities on offer. Qualified Institutional Buyers (QIBs) remained the key buyers for the three days since India's biggest Rs 30,213 crore initial share sale opened for public subscription on October 21.
Earlier in the day, news agency PTI reported that the Reliance Group’s telecom arm’s initial share sale became the first public offer to cross one crore applications globally.
Jio IPO Final Subscription Status
According to NSE data till 7:00 PM on Friday, the overall subscription for Jio's IPO was 22.19 times. Qualified Institutional Investors (QIBs) remained way ahead in subscribing to their allotted quota as compared to Non-Institutional Investors (NIIs) and retail investors.
Category | Subscription (times) |
Overall Subscription | 22.19 |
Qualified Institutional Buyers (QIBs) | 70.55 |
Non-Institutional Investors (NIIs) | 14 |
Retail Individual Investors | 2.72 |
Employees | 2.93 |
Shareholders | 7.60 |
GMP Jio IPO
Jio IPO GMP remained steady between 21 per cent to 24.5 per cent throughout the subscription period--October 21-23. The last recorded GMP of Jio Platforms IPO was Rs 253--at Investorgain--a grey market tracker. The latest activity in the unofficial market predicts a potential listing at Rs 1,372, up 22.61 per cent as compared to the IPO's upper price band of Rs 1119.
Jio Platforms IPO Details
Jio Platforms' IPO opened for public subscription on Wednesday, October 21, with an aim to raise approx. Rs 30,213 crore at the upper limit of the price band, making it India's largest-ever share sale. The price band for the share sale was fixed at Rs 1,065 to Rs 1,119 per share.
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Earlier, on Monday, October 19, Jio Platforms allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the top end of its price band. Institutional demand exceeded Rs 2.5 lakh crore, more than 30 times the amount available in the anchor book.
The issue offers 27 crore fresh equity shares with no offer-for-sale component.
Key Dates And Details
Details / Event | Information |
|---|---|
Subscription Window | was open between October 21 – October 23 |
Price Band | was fixed at Rs 1,065 to Rs 1,119 per share |
Issue Type & Size | Fresh issue of up to 27 crore equity shares (Rs 10 face value each) |
Anchor Investor Bidding | Monday, October 19 |
Expected Listing Date | October 28 on NSE and BSE |
Lot Size & Minimum Investment | 12 shares (multiples of 12 thereafter); minimum investment of Rs 13,428 |
Employee Discount | Rs 54 per share |