Jio Platforms IPO oversubscribed in less than two hours led by QIBs
Jio Platforms launched one of India's largest public offerings, priced at ₹1,065–₹1,119 per share with a target of raising ₹30,213 crore. The qualified institutional buyer portion was oversubscribed 4.86 times within two hours, while retail and non-institutional categories showed weaker demand at 0.46 and 0.61 times subscription respectively. The IPO represents a fresh offering with no secondary sales from existing shareholders and follows anchor allocation of ₹8,110 crore. At the upper price band, Jio Platforms is valued at approximately $108 billion, positioning itself as a technology company leveraging AI and cloud capabilities beyond telecom operations.
Key points
- IPO raised ₹30,213 crore, among India's largest public issues
- QIB portion oversubscribed 4.86x; retail undersubscribed at 0.46x
- Company valued at $108 billion at upper IPO price band
- Anchor investors allocated ₹8,110 crore across 212 investors
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