Jio Platforms has set a new benchmark in India’s primary market, attracting the highest qualified institutional buyer (QIB) demand among the country’s five largest initial public offerings (IPOs), with its Rs 30,213-crore issue entering the final day of bidding.
The telecom and digital services major has garnered QIB subscription of 12.87 times, excluding anchor investors, marginally ahead of the National Stock Exchange of India’s (NSE) IPO, which recorded subscription of 12.67 times. The demand puts Jio ahead of the country’s biggest IPOs on institutional appetite, even as the issue remains open for subscription until October 23.
