Jio IPO Retail Portion Fully Subscribed on Day 2
Jio IPO Subscription Crosses Four Times on Day 2
Exchange data showed that qualified institutional buyers subscribed to 9.78 times their reserved allocation, leading demand for the public offering.
Retail investors, who have been allocated approximately one-third of the issue, fully subscribed their portion within the first two hours of Thursday’s trading. Retail subscription subsequently reached 1.29 times the available shares.
The IPO had already achieved full overall subscription within approximately 90 minutes of opening on Wednesday, October 21.
Jio IPO Valuation Reaches $108.3 Billion
The $3.2 billion offering values Jio Platforms at up to $108.3 billion, potentially placing the company among India’s largest listed businesses.
The IPO has a price band of ₹1,065 to ₹1,119 per share, with public subscriptions scheduled to close on October 23.
Shares are expected to begin trading on Indian stock exchanges on October 28.
The listing will also mark Reliance Industries’ first public share offering in approximately two decades.
Reliance Jio’s Digital Expansion Attracts Investors
Jio Platforms operates India’s largest telecommunications network, serving more than 500 million subscribers.
Since its launch in 2016, Reliance Jio has significantly expanded mobile internet access through affordable data and voice services.
The company is now investing in 5G connectivity, home broadband, cloud computing and artificial intelligence services.
Telecommunications currently account for approximately 90% of Jio’s revenue, while its newer digital businesses represent potential avenues for future expansion.
The strong subscription figures highlight investor interest in Jio’s established telecommunications operations and broader digital growth strategy.
