Economy
Jio Platforms IPO Closes With Record Bids Worth Over Rs 4.90 Lakh Crore
The Indian Express2h
THE BRIEF
1
Jio Platforms' Rs 30,213-crore initial public offering closed on Friday after drawing bids worth over Rs 4.90 lakh crore, setting an Indian market record.
2
The offering was subscribed 22.19 times overall, led by institutional investors with qualified institutional buyers bidding for 70.55 times their allotted quota.
3
The company plans to use Rs 27,500 crore of the proceeds to repay debt, with shares expected to list on the BSE and NSE on October 28.