Jio Platforms IPO Day 2 LIVE Updates: Retail portion fully subscribed; Demand tops ₹3.6 lakh crore

Jio Platforms IPO Day 2 LIVE Updates: After a record-breaking first day, the second day of the Jio Platforms IPO has continued to lay up bids, with the Retail investors' portion also fully subscribed before 11 am today. The ₹30,213 crore issue was fully subscribed within 100 minutes of the issue opening, with institutional investors leading the subscription tally with a 9.42x subscription.

Overall bids as of 11.36 am were worth ₹1.09 lakh crore, taking the total IPO demand to more than ₹3.6 lakh crore, including the ₹2.5 lakh crore bids that were placed by anchor investors. Overall subscription stands at 3.6 times the number of shares on offer as bidding opens on the second day.

The retail portion saw bids crossing ₹6,900 crore on the first day, the highest first-day retail demand for any Indian IPO.  Investment bankers believe that Jio is on track to list among India's top five most valuable companies.

There is still more action left as big domestic institutions, Ultra-HNIs and individual investors usually bid in the final hours of bids closing. Bidding remains open till 7 PM. The issue closes for subscription on Friday; allotment takes place on Monday, October 26, while the listing will take place on Wednesday, October 28.

Watch this space for all the LIVE subscription updates.

HomeMarket NewsJio Platforms IPO Day 2 LIVE Updates: Retail portion fully subscribed; Demand tops ₹3.6 lakh crore