100marketnews

Jio Platforms' initial public offering has closed as India's largest-ever share sale — and one of the most subscribed in the world. The Rs 30,213 crore issue, priced in a band of Rs 1,065 to Rs 1,119 per share, was subscribed 22.19 times overall by the time bidding closed on Friday, October 23, drawing total bids of roughly Rs 7.40 lakh crore including anchor allocations. The most striking number is not the money but the headcount. More than 13.8 million applications came in, beating the previous global record of 9.73 million applications set by Waaree Energies in October 2024 by nearly 42 per cent. For a single Indian issue, that scale of retail and institutional participation together is unprecedented. The subscription, category by category The demand was led overwhelmingly by institutions. Qualified institutional buyers (QIBs) bid 70.55 times the shares reserved for them. Non-institutional investors — typically wealthy individuals and family offices — subscribed 14 times. Re...