Jio Platforms' blockbuster initial public offering (IPO) has set new benchmarks in India's primary market, attracting bids from nearly 1.3 crore retail investors and generating overall demand of almost Rs 7.5 lakh crore, including the anchor investor portion. The Rs 30,213-crore issue, which sought to raise a record amount, closed on Friday with strong participation across investor categories.
\n\nThe offering surpassed previous records for the number of IPO applicants as well as the total value of bids received.
\n\nInstitutional investors led the subscription rush, with the qualified institutional buyer (QIB) segment subscribed more than 70 times by the end of the three-day bidding window.
\n\nJio IPO Breaks Records Set By Waaree Energies, Reliance Power
\n\nBefore Jio Platforms' public issue, Waaree Energies held the record for the highest number of applications received in an IPO, with slightly over 97 lakh investors applying for its shares. Jio's offering comfortably crossed that benchmark, drawing bids from approximately 1.3 crore retail investors.
\n\nThe issue also surpassed the demand record set by Reliance Power in 2008. That IPO had attracted bids worth around Rs 7.1 lakh crore, while the total demand for Jio Platforms shares, including the anchor portion, approached Rs 7.5 lakh crore by…
Original source: https://www.timesnownews.com/business-economy
