Mumbai: Jio Platforms Ltd had already made headlines by announcing the biggest initial public offering (IPO) in Indian history. On Wednesday, it became the fastest-ever fully subscribed mega IPO.
The issue was fully subscribed within 100 minutes of opening — by 10.36 am – highlighting strong investor demand for the country’s largest public issue.
The issue of Reliance Industries Limited subsidiary has drawn particularly strong interest from qualified institutional buyers (QIBs), whose reserved portion was subscribed 3.86 times by 11.30 am, and by 9 times till early evening.
Jio Platforms’ Rs 30,213-crore issue comfortably surpassed Hyundai Motor India’s previous highest of Rs 27,870-crore IPO in 2024.
Jio Platforms has already raised Rs 8,110 crore through anchor investors. BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Janus Henderson, and many other mutual funds and institutions were part of the anchor book.
Records set by Jio Platforms Ltd
India’s biggest-ever IPO — Total issue size of Rs 30,213 crore is higher than Hyundai Motor India’s Rs 27,870-crore IPO
Fastest to achieve full subscription — Jio Platforms IPO crossed the 1x subscription mark in less than 100 minutes, making it the fastest among the recent mega-IPOs discussed here to achieve full subscription. To compare its opening-day performance with some other large issues, Bajaj Housing Finance’s IPO crossed full subscription at around 2 pm on Day 1, LG Electronics India’s issue was fully subscribed by the close of opening day, Hyundai Motor India’s issue was subscribed just 18% on its first day.
QIB portion subscribed within 28 minutes — Institutional investors led the demand for Jio Platforms shares, with QIB portion being fully subscribed within just 28 minutes of the issue opening.
Fresh issue of shares, unlike OFS-led mega-IPOs
Jio Platforms IPO is entirely a fresh issue, making it different from other recent mega IPOs of Hyundai Motor India and LG Electronics India, which were entirely OFS.