Mukesh Ambani’s $3.2 billion telecom IPO has drawn strong interest from institutional and retail investors, employees and shareholders. (File Photo)
\n\nJio Platforms’ initial public offering (IPO) has set a global benchmark, becoming the first public issue to attract more than one crore applications, news agency PTI reported on Friday, citing sources. The milestone comes as bidding for the much-anticipated offering enters its final hours, reflecting strong investor interest across categories. The $3.2 billion share sale by billionaire Mukesh Ambani’s telecom and digital services business is drawing participation from retail investors, institutional buyers, employees and existing shareholders.
\n\nThe IPO, the largest in India’s history, is also being viewed as an important indicator of investor appetite for mega-listings at a time when artificial intelligence-linked stocks are facing greater scrutiny.
\n\nDemand for the Jio Platforms IPO accelerated during the final day of bidding, with subscriptions exceeding six times the total shares available by Friday.
\n\nAccording to Reuters, assuming most investors placed bids at the upper end of the price band of Rs 1,119, the overall demand was worth more than $14.5 billion. The response shows the scale of interest in the telecom giant’s market debut.
\n\nThe issue had already generated substantial interest before…
Original source: https://www.timesnownews.com/business-economy
