Jio Platforms Finalises Share Allotment After Record Public Offering

Jio Platforms finalised share allotment for its 30,213 crore rupee initial public offering on Monday following strong investor demand during the three-day bidding period that concluded last week.

The public issue attracted approximately 1.3 crore applications and generated total demand approaching 7.5 lakh crore rupees, according to consolidated exchange data.

The massive share sale ranks as the largest initial public offering in the country to date, drawing intense interest from institutional and retail market participants alike.

Qualified institutional buyers led the demand by subscribing 70.55 times to their reserved portion, while non-institutional investors subscribed 14 times and retail investors subscribed 2.72 times.

The public issue consisted entirely of a fresh issuance of 27 crore equity shares priced between 1,065 rupees and 1,119 rupees per share, with a lot size of 12 shares.

Successful applicants can expect shares to be credited to their demat accounts on Tuesday, while refunds for unsuccessful bidders will be processed on the same day.

The grey market premium indicated estimated listing gains of over 22 percent above the issue price, though market observers note that unofficial premiums do not guarantee final trading results.

Fresh funds raised from the offering will primarily support corporate growth objectives, including the repayment of certain outstanding borrowings.

"We expect to achieve the benefits of listing of the equity shares on the stock exchanges and creation of a public market for the equity shares," the company said in its red herring prospectus.

Trading on the secondary market is scheduled to begin at 10 am on Wednesday on the National Stock Exchange and Bombay Stock Exchange.

Applicants await final confirmation on whether market debut performance will match expectations set by the record-breaking subscription figures.