Reliance Industries’ digital arm Jio Platforms’ initial public offering (IPO) was subscribed 1.01 times at around 10:34 am on Wednesday, the opening day of the issue, with bids for about 19.99 crore shares worth roughly Rs 22,354 crore at the upper end of the price band, against Rs 22,078 crore worth of shares on offer.
Qualified institutional buyers (QIBs) led demand, bidding 3.25 times their reserved portion, with bids worth Rs 17,804 crore against Rs 5,484 crore on offer, according to exchange data.