The overwhelming response to Jio Platforms' Rs 30,213 crore IPO has raised expectations that India's primary market could absorb more mega offerings in the coming months, with several companies preparing to raise thousands of crores. However, analysts say the success of future issues will depend on valuations, investor returns and the strength of the secondary market.
Mukesh Ambani's Jio Platforms attracted public bids worth Rs 4.9 lakh crore during its three-day offering, which closed on October 23. The issue was subscribed 22.19 times, with qualified institutional buyers bidding for 70.55 times their allotted shares and retail investors subscribing 2.72 times.
