Mumbai, NFAPost: Reliance Industries digital arm Jio Platforms’ IPO was subscribed 1.01x at around 10:34 AM on Wednesday, the IPO’s opening date, with bids for about 19.99 crore shares worth roughly ₹22,354 crore at the upper band against ₹22,078 crore on offer.
Qualified institutional buyers (QIBs) led the pack, bidding 3.25 times (₹17,804 crore against ₹5,484 crore), while employees bid 0.57 times, shareholders at 0.43 times, retail at 0.23 times and non-institutional investors (NIIs) at 0.26 times.
Within the NII segment, bids above ₹10 lakh stood at 0.20 times versus 0.36 times for the ₹2-10 lakh bracket, according to exchange data.
The IPO opened at 9 AM, making it an exception after National Stock Exchange’s offering to open an hour ahead of regular issue timings, given the record size, according to people familiar with the matter.
The IPO is entirely a fresh issue with a price band between ₹1,065 and ₹1,119, which investors can buy in lots of 12 shares. The issue closes for public subscription on Friday, 23 October.
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