Jio Platforms IPO Day 2 LIVE Updates: After a record breaking first day, bids will open for the Jio Platforms IPO in just a few hours from now. Bids worth ₹70,000 crore were received on the first day, taking the total demand past ₹3 lakh crore. Follow for all the LIVE subscription updates on Day 2.
Jio Platforms IPO Day 2 LIVE Updates: After a record breaking first day, bids will open for the Jio Platforms IPO’s second day in just a few hours from now. 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 received during the first day were worth ₹70,000 crore, taking the total IPO demand to ₹3.2 lakh crore, including the ₹2.5 lakh crore bids that were placed by anchor investors. The retail portion is also set to see full subscription soon with bids crossing ₹6,900 crore on the first day, the highest first day retail demand for any Indian IPO. Overall subscription stands at 3.2 times the number of shares on offer as bidding opens on the second day. 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.