Jio Platforms IPO draws record first-day demand, subscribed over three times
Jio Platforms IPO was oversubscribed 3.16 times on day one and fully booked within 100 minutes, according to Moody's, which republished HT and Mint reporting.
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what happened
India's largest initial public offering, from Jio Platforms, opened with strong demand. According to Moody's, bids on the first day reached 3.16 times the shares on offer, the highest first-day figure for any mega share sale in the country. The book was fully subscribed within 100 minutes.
Qualified institutional buyers, including foreign institutions and mutual funds, bid for 9.42 times the shares reserved for them and made up 74% of total demand. Retail investors subscribed 73% of their quota. The same day, the Nifty 50 index fell 0.34%.
The offer remains open until October 23. LIC was the largest anchor investor with a 6.17% share of the anchor book, followed by New World Fund with 6% and the Government of Singapore with 4.2%.
why it matters
According to IPO Watch, the grey market premium stood at Rs 250, pointing to expectations that the shares would open about 22.31% above the issue price. This is an unofficial indicator and does not guarantee how the stock will trade after listing. The demand stands out against a market where the Nifty 50 has shed more than 10% this year.
market impact
Indian equities: strong IPO demand signals investor appetite for large offerings despite a weak broader market
tags
instruments
sources
- Jio IPO has a flying start, shares subscribed over three times — Moody's, 21 October 2026 at 19:19 UTC
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