The Jio Platforms IPO has shattered national records by receiving the highest number of applications for any initial public offering, achieving a total subscription of over 20 times. Running from October 21 to October 23 with an issue size of Rs 30,213 crore, the offering drew immense interest from institutional and retail investors alike

The Jio Platforms IPO has shattered national records by receiving the highest number of applications for any initial public offering, achieving a total subscription of over 20 times. Running from October 21 to October 23 with an issue size of Rs 30,213 crore, the offering drew immense interest from institutional and retail investors alike

The Jio Platforms IPO has shattered national records by receiving the highest number of applications for any initial public offering, achieving a total subscription of over 20 times. Running from October 21 to October 23 with an issue size of Rs 30,213 crore, the offering drew immense interest from institutional and retail investors alike

All the hype around the launch of the Jio Platforms IPO has resulted in extraordinary events in the last three days for investors. Breaking all time records, Jio IPO received the highest ever applications for any initial public offering in the country.

As per the official website of the National Stock Exchange (NSE), as of 6 pm on the last day of public bidding, Jio Platforms IPO was subscribed more than 20 times. More than 406 crore bids were drawn against 19.75 crore shares on offer.

Qualified Institutional Buyers(QIBs) bid 64.14 times, with 314.35 crore bids drawn against 4.9 crore shares offered. Non Institutional Investors subscribed 13.97 times, with 50.9 crore bids drawn against 3.6 crore shares reserved. Retail Individual Investors(RIIs) subscribed 2.69 times as well.

Key period for Jio IPO subscription:

The official period for investors to opt to subscribe to the Jio Platforms IPO was open from October 21 to October 23.  With an issue size of Rs 30,213 crore, the shares of Jio are proposed to be listed on the BSE and NSE. For those who are interested in applying for the IPO, a minimum investment amount of ₹12,780 was required for a minimum lot of 12 shares. The price range is fixed at ₹ 1065- ₹ 1119 per share.

Jio IPO latest GMP?

As per various market analysts and reports, the latest grey market premium (GMP) of Jio Platforms IPO is around ₹245–₹255 per share, indicating an estimated listing premium of approximately 22 per cent –23 per cent over the upper issue price. However, GMP is an unofficial indicator and the final price can vary at the time of listing.

Managing Director Akash Ambani had recently mentioned that Jio Platforms is betting that its technology, artificial intelligence and cloud ambitions will drive growth beyond telecom. "There is no either-or at Jio: the network is our technology," Ambani said in an interview with PTI, highlighting the company's in-house 5G core, cloud-native radio access network and software platform serving 533.3 million customers.

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