Jio Platforms IPO Day 1 Live Updates: Issue Sees Historic Subscription Response, Fully Subscribed Within First Hours, QIB Booked 3.25x; GMP At 25%

Jio Platforms IPO Live Updates: Reliance Industries’ digital services arm, Jio Platforms, opened its much-awaited initial public offering (IPO) for public subscription on October 21. The three-day IPO will close on October 23. The Jio Platforms IPO crossed the full-subscription mark on the first day of bidding, with the issue subscribed 1.03 times as of 10:39 am on Wednesday, October 21.

Demand was led by qualified institutional buyers (QIBs), whose reserved portion was subscribed 3.25 times. In comparison, the retail individual investor category was subscribed 0.25 times, while the non-institutional investor (NII) segment saw 0.26 times subscription.

Jio Platforms has fixed the price band at Rs 1,065-1,119 per equity share, while the lot size has been set at 12 shares. At the upper end of the price band, retail investors will need to invest a minimum of Rs 13,428 to apply for one lot.

The issue comprises a fresh offering of about 27 crore equity shares, with no offer for sale (OFS) by existing shareholders. The IPO is expected to value Jio Platforms at around Rs 10.3 lakh crore at the upper end of the price band, placing it among India’s most valuable listed companies if the valuation is sustained after listing.

In this Jio IPO liveblog, follow the latest updates on the Day 1 subscription status, GMP today, price band, lot size, issue details, expert reviews, allotment date and expected listing date. We will also bring you important developments related to the public issue as they emerge. Stay tuned for live updates on the Jio Platforms IPO.

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