Business
Jio Platforms IPO: India's Biggest-Ever Issue Subscribed in 100 Minutes, Closes Day 1 at 3.01x as Institutions Pile In
Jio Platforms' Rs 30,213 crore initial public offering, the largest in India's market history, was fully subscribed within about 100 minutes of opening on Wednesday and closed the first day at 3.01 times subscription. Institutional investors drove the demand, bidding more than nine times their reserved quota, even as retail investors stayed cautious. The issue remains open until Friday, October 23, with allotment scheduled for October 26 and a listing expected around October 28.