According to data available on the Bombay Stock Exchange (BSE) website, the portion reserved for Qualified Institutional Buyers (QIBs) was fully subscribed within the first 10 minutes of trading. In less than 30 minutes, demand in this category had reached nearly twice the shares available. QIB subscription subsequently climbed to 2.86 times the reserved portion.
At the beginning of the issue, the overall subscription stood at 0.83 times. However, total demand exceeded the number of shares on offer within 100 minutes of the IPO opening.
Jio Platforms opened its IPO on Wednesday with a price band of ₹1,065 to ₹1,119 per share. The strong initial response reflects the substantial demand for the company’s public offering, particularly from institutional investors.
Jio Platforms May Break Hyundai Motor India’s IPO Record
The IPO, valued at approximately ₹30,213 crore, could make Jio Platforms the company with the largest IPO in India. The current record belongs to Hyundai Motor India, which launched a ₹27,870 crore public offering in 2024.
Jio Platforms has set the upper end of its price band at ₹1,119 per share. At this price, the company’s valuation works out to approximately 8 billion.
Under the IPO, the company is issuing up to 27 crore new shares. The offering does not include an Offer for Sale (OFS), meaning existing shareholders are not selling their shares through this issue.
Anchor Investors Place Bids Worth Over ₹2.5 Lakh Crore
Investor interest was also strong before the public issue opened. On Monday, Jio Platforms allotted shares worth approximately ₹8,110 crore to 212 anchor investors at ₹1,119 per share.
According to reports, anchor investors submitted bids worth more than ₹2.5 lakh crore. This represented demand exceeding 30 times the number of shares available to them, highlighting the substantial interest ahead of the public offering.
The anchor allocation preceded the IPO’s opening on Wednesday and provided an early indication of institutional appetite for the issue.
Jio Platforms Looks Beyond Telecom to AI and Cloud Services
Jio Platforms is seeking to expand beyond its telecommunications business by increasing its presence in artificial intelligence (AI), cloud computing and digital services.
Managing Director Akash Ambani said the company is focusing on expanding its operations across these sectors. Jio Platforms currently has 53.33 crore customers and aims to increase revenue from digital services and enterprise technology by leveraging its extensive customer base.
The IPO’s rapid subscription, strong institutional demand and potential to surpass Hyundai Motor India’s record have placed Jio Platforms’ public offering at the centre of investor attention. Its broader expansion plans also highlight the company’s focus on developing businesses beyond telecommunications.
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