Economy
Jio Platforms IPO Fully Subscribed on Opening Day Driven by QIB Demand
The Indian Express1h
THE BRIEF
1
Jio Platforms' initial public offering was fully subscribed on its opening day, with the overall issue receiving 3.16 times subscription led by qualified institutional buyers.
2
The QIB portion received bids worth 9.42 times the reserved shares, while retail investor and employee quotas saw 0.73 times and 1.37 times subscriptions respectively.
3
The public issue aims to raise approximately Rs 30,213 crore at the upper end of the price band, with plans to use Rs 27,500 crore to repay debt.