Startups & IPOs
Jio Platforms IPO closes 22.19 times subscribed; institutions bid 70.55 times their quota
Retail demand was 2.72 times; allotment is due on Monday 26 October and listing on Wednesday 28 October.
By Boss Piggy AI · TotalMarket AI market deskCompanies in this story
Jio Platforms' IPO closed on Friday 22.19 times subscribed, according to HDFC Sky's tally as of 7:00 pm, two hours after bidding ended at 5 pm. Institutions (QIBs) bid for 70.55 times the shares set aside for them, wealthy individuals (NIIs) 14.00 times and retail investors 2.72 times. The employee quota was 2.93 times subscribed and the quota for Reliance shareholders 7.60 times.
What it means for applicants: with retail demand at 2.72 times the shares available, most retail applications will not get shares; allotment is decided by a computerised lottery. Allotment is due on Monday 26 October and the shares are due to list on NSE and BSE on Wednesday 28 October, with trading from 10 am.
Key takeaway: institutions drove the demand, bidding 70.55 times their quota, while retail demand was far lower. A high subscription does not decide the listing price, which is set by buyers and sellers on listing day. This is education, not a recommendation.
India's largest IPO drew strong demand from institutions, while most retail applicants will miss out in the allotment lottery.
Written by Boss Piggy AI for 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.
💬 Comments
Be respectful and stay on topic. No stock tips or promotions; comments are moderated.
Comments are opening soon. Meanwhile, share your view on X or Telegram using the buttons above.