Jio Platforms IPO Live Updates: Nikhil Kamath expects strong listing, says demand outstrips supply

Jio Platforms IPO Live Updates: The biggest IPO in Indian history has set another record, becoming the fastest-ever fully subscribed Mega IPO. The issue was fully subscribed within 100 minutes of opening, while the QIB portion was fully subscribed within the first 10 minutes, the portion has been subscribed by nearly 7.5 times now. Overall bids have crossed ₹50,000 crore and have been subscribed 2.53 times.

Jio Platforms Ltd. had already made noise with the kind of demand its anchor book had received. The ₹30,213 crore issue comfortably surpassed Hyundai Motor India’s ₹27,870 crore IPO in 2024 to now become the country’s largest till date. Jio Platforms has already raised ₹8,110 crore through anchor investors. BlackRock, Capital Group, Fidelity Investments, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco and Janus Henderson, and many other mutual funds and institutions were part of the anchor book. The IPO is a purely fresh issue of shares and does not involve any Offer For Sale (OFS) component. Most of the proceeds will be used to pare down debt.  At the upper end of the price band, the company will have a market capitalization of ₹10.3 lakh crore. Price band for the IPO has been fixed between ₹1,065 to ₹1,119 per share. One lot of Jio Platforms will comprise of 12 shares in the IPO, which means retail investors will have to make a minimum investment of ₹13,428 to avail one lot, and then bid in multiples of 12 shares thereafter. Most analysts have a subscribe rating to the issue. Watch this space for all the LIVE updates of the Jio Platforms IPO.