Retail Investors Fully Subscribe Ambani’s Jio Platforms IPO on Day Two
Jio Platforms' $3.2 billion IPO sees retail portion fully subscribed as demand hits 3.47 times the shares available on the second day of public bidding.
POLICY WIRE — Mumbai, India — Investor enthusiasm for the $3.2 billion initial public offering from billionaire Mukesh Ambani’s Jio Platforms continued to intensify on Thursday. Exchange data confirmed that the offering reached 3.47 times the total shares available by the second day of public bidding.
The retail segment of the offering has now been fully subscribed. This milestone follows a rapid start to the sale, which saw the entire IPO fully booked in less than two hours after trading opened on Wednesday.
Market interest remains high for what stands as India’s largest share sale and the first major listing from Ambani’s Reliance in two decades. Current data shows a grey market premium of Rs 247, suggesting potential listing gains of approximately 22 percent for participants.
Jio Platforms maintains a dominant market position as the operator of India’s largest telecom company. With a subscriber base exceeding 500 million, the firm ranks as the second-largest single-country telecom operator globally, trailing only China Mobile.
Reporting by Policy-Wire (PW)
