The first public offering for Jio Platforms, through which the company is raising Rs. 30,213 crore, making it the largest such offer in India, was subscribed over five times at the close of bidding on the second day. Institutional investors continued to lead the bidding process — which had helped the IPO to get fully subscribed in the first 100 minutes of opening on day 1 — with high-net-worth investors (HNIs) following closely.
The retail part of the offer — which was subscribed 70% on day 1 — was fully subscribed on day 2. The second day’s closing data showed 1.5 times subscription for 8.5 crore shares that are on offer.
