New Delhi, Oct 21 (SocialNews.XYZ) The Rs 30,213-crore initial public offering (IPO) of Jio Platforms was fully subscribed on Wednesday -- the first day of bidding -- receiving bids 2.5 times the offer so far.
By 3:15 pm, the portion reserved for qualified institutional buyers (QIBs) had been subscribed 7.46 times.
The non-institutional investors (NIIs) portion was booked 1.32 times, while the retail investor category saw 60 per cent subscription so far.
Moreover, the Reliance Industries Limited shareholder reservation portion was subscribed 1.16 times, with bids for 2,59,57,068 shares against 2,23,41,376 shares on offer. Similarly, the employee portion was also fully booked.
Overall, the issue -- India's largest-ever public offering -- was subscribed 2.5 times with bids received for 49.56 crore shares against 19.75 crore shares on offer as of 3:15 pm, as per the BSE data.
Earlier in the week, the company raised Rs 8,109.84 crore from 212 anchor investors.
Several major sovereign wealth and pension funds participated in the anchor round, including Singapore's GIC, Norges Bank Investment Management, Abu Dhabi Investment Authority, Qatar Investment Authority, PSP Investments, the California State Teachers' Retirement System and the Florida Retirement System.
Domestic institutional investors, including SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life, Nippon India and Kotak Mahindra Mutual Fund, also participated.
Major insurers and pension funds, including Life Insurance Corporation of India, HDFC Life, SBI Life, SBI Pension, HDFC Pension, ICICI Prudential and UTI Pension, also took part.
The IPO will remain open for subscription till October 23.
The price band has been fixed at Rs 1,065-1,119 per share. The offering comprises up to 27 crore fresh shares.
The allotment of shares is likely to be finalised by October 26. The equity shares are proposed to be listed on the BSE and NSE on October 28.
Source: IANS
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