Jio Platforms IPO: Retail quota full, subscribed 3.47 times on day two
The $3.2 billion IPO drew bids for 3.47 times the shares on offer on its second day, led by qualified institutional buyers whose quota was subscribed 9.42 times, exchange data showed
Appetite for the $3.2 billion IPO of billionaire Mukesh Ambani's Jio Platforms kept building on Thursday, its second day of public bidding, with orders at 3.47 times the shares up for grabs and the retail portion now fully subscribed, exchange data showed. In what is set to be India's largest IPO and the first by Reliance in 20 years, the listing is a key plank of Ambani's long-term vision to turn Reliance from an oil-and-chemicals giant into an "everything company" spanning consumer, retail and technology.
