Jio Platforms IPO Draws Bids Worth 7.41 Lakh Crore, Subscribed 22.19 Times
Moody's reports that Jio Platforms' record IPO drew bids of about 7.41 lakh crore and was subscribed 22.19 times, with listing set for October 28.
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what happened
The public offering of Jio Platforms, the largest in Indian corporate history, closed on Friday with a subscription of 22.19 times. Combined data from both stock exchanges show total bids of about 7.41 lakh crore. Investors sought to buy 4.38 billion shares against an offer of 197.5 million shares.
Institutional investors were especially eager. Public bids over the past three days reached 4.91 lakh crore at the upper end of the price band, 1,119 per share. The issue opened on Wednesday and closed on Friday, and the stock is scheduled to list on October 28.
why it matters
The strong demand contrasts with weak secondary-market sentiment, where worries about elevated crude oil prices and selling by foreign funds have weighed on stocks. How the shares trade after listing will show how Indian markets absorb a supply of new stock of this size.
market impact
Indian equities: the huge offering may pull liquidity from the secondary market and shape sentiment ahead of the listing
tags
instruments
sources
- Friday Blockbuster for Jio IPO: 7.4Lcr Bids, 22x Subscription — Moody's, 24 October 2026 at 04:13 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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