Jio's IPO Sets Record for Institutional Demand, Overtaking NSE Among India's Five Biggest Issues

Jio Platforms' initial public offering, valued at Rs 30,213 crore, has drawn strong investor interest, with qualified institutional buyers subscribing 12.87 times the portion reserved for them. That level of institutional demand now stands above the figure recorded by NSE, placing the offering at the top of India's five largest public issues on this measure.

By the second day of bidding, the overall subscription had reached 5.36 times, indicating broad appetite across investor categories. Activity in the grey market, where shares trade ahead of listing, pointed to a premium over the issue price, a sign that many market participants expect a favourable debut.

Brokerages have also weighed in positively, issuing recommendations that support the offering. Taken together, the early numbers reflect confidence among large institutions as well as the wider market.

The figures underline how closely the outcome is being watched, given the size of the issue. Whether the enthusiasm carries through to listing day will depend on the final allotment and market conditions as trading begins.