Jio Platforms’ initial public offering (IPO) closed its first day of bidding on Wednesday with an overall subscription of three times the shares on offer, driven by strong demand from qualified institutional buyers (QIBs).
\n\nThe company received bids for over 59 crore shares against 19.75 crore shares available for subscription, indicating robust investor interest in the issue.
\n\nAt the end of the first day of bidding, the Jio Platforms IPO was subscribed 3 times overall, against 19.75 crore shares on offer.
\n\nFurther, the retail individual investor (RII) segment received bids for 68% of its 8.50 crore shares, while the non-institutional investor (NII) portion was subscribed 1.57 times against 3.64 crore shares available.
\n\nThe Rs 30,213 crore IPO has a price band of Rs 1,065–Rs 1,119 per share and will remain open for subscription until October 23.
\n\nGeojit Investments Limited in a note on Jio IPO said, "At the upper price band of Rs 1,119, Jio is valued at ~15x FY26 EV/EBITDA on a post-issue basis, implying a premium to industry peers. This premium is justified by Jio’s market leadership, improving monetisation, strong cash flow generation, and substantial long-term optionality beyond its core telecom business. IPO-led deleveraging is expected to further…
Original source: https://www.timesnownews.com/business-economy
