Jio Platforms IPO Day 3 Live Updates: Subscription crosses 19x, QIBs near 60x

Jio Platforms IPO Day 3 Live Updates: Bidding for Jio Platforms’ ₹30,213-crore IPO is on its final day, with overall subscription nearing 15 times as of 3:54 pm. The qualified institutional buyers (QIB) portion was subscribed 40.66 times, while bids excluding the anchor book crossed ₹3.2 lakh crore. The issue has also crossed 1 crore applications, making it the first IPO globally to reach the mile

Jio Platforms IPO Day 3 Live Updates: Bidding for Jio Platforms’ ₹30,213-crore IPO is on its final day, with overall subscription nearing 15 times as of 3:54 pm. The qualified institutional buyers (QIB) portion was subscribed 40.66 times, while bids excluding the anchor book crossed ₹3.2 lakh crore. The non-institutional investor portion was subscribed 13.86 times, followed by shareholders at 7.32 times, employees at 2.81 times and retail investors at 2.55 times. The issue has also crossed 1 crore applications, making it the first IPO globally to reach the milestone. Jio Platforms’ IPO was fully subscribed within the first 100 minutes on Day 1, making it the fastest mega IPO in India to achieve the milestone. By the end of Day 2, overall subscription stood at 5.5 times, with QIBs subscribing 13 times their allotted portion and placing bids worth over ₹72,000 crore. Total demand from anchor and public investors had exceeded ₹3.7 lakh crore by the close of Day 2. Watch this space for live updates on the bidding, market experts’ views and grey market premium (GMP) movement.