Startups & IPOs
Jio IPO day 1: 2.38x subscribed by 3 pm; QIBs bid 7x, retail at 0.61x
Bids for about 47 crore shares came in on the first day of India's biggest IPO.
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Jio Platforms' IPO was subscribed 2.38 times by 3 pm on day one, HDFC Sky reported: bids came in for about 46.95 crore shares against 19.75 crore on offer to the public (excluding the anchor portion already sold on Monday).
Big institutions (QIBs) led with 7.09 times their quota. HNIs, the non-institutional investors who apply for more than ₹2 lakh, were at 1.06 times. Reliance shareholders (1.15x) and employees (1.17x) also filled their reserved portions. Retail investors, applying up to ₹2 lakh, were at 0.61 times, which is normal on day one; many retail applicants bid on the last day.
What does this mean for allotment? If the retail portion ends oversubscribed, each applicant usually gets at most one lot of 12 shares, chosen by lottery. Worked example: at 5 times retail subscription, roughly 1 in 5 applicants would get a lot, and the rest get their blocked money released.
Key takeaway: institutional demand is very strong; retail and HNI bids on 22–23 October will decide the final number before allotment on 26 October.
| Market | Level | Change |
|---|---|---|
| QIB (ex-anchor)34.77 cr shares bid vs 4.90 cr | 7.09x | |
| NII (HNI)bNII 1.05x, sNII 1.07x | 1.06x | |
| Retail5.21 cr bid vs 8.50 cr | 0.61x | |
| Employees | 1.17x | |
| Shareholders | 1.15x | |
| Total46.95 cr bid vs 19.75 cr offered | 2.38x |
Strong institutional demand, including from foreign funds, supports the rupee and signals confidence in Indian telecom; it also draws cash away from other stocks during the issue.
Written with AI assistance by TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
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