Jio Platforms IPO Receives Record First-Day Subscription

Jio Platforms Ltd secured the highest first-day subscription for a mega share sale in India, with investors bidding for 3.16 times the shares on offer.

The company is set to raise ₹30,213 crore at the upper end of the price band in an IPO that closes for subscription on October 23.

Qualified institutional buyers led the demand by bidding for 9.42 times their reserved portion, accounting for 74% of the total share demand.