Jio Platforms IPO draws heavy institutional demand, overall subscription at 1.01 times

Jio Platforms launched an IPO with a price band of Rs 1,065 to Rs 1,119 per share and a lot size of 12 shares, offering up to 270 million new shares. Anchor investors such as LIC of India, Capital Group’s New World Fund and the Government of Singapore received allocations, and the anchor book was reported to be oversubscribed more than 30 times, attracting about ₹2.5 trillion in institutional bids. Overall subscription reached 1.01 times the issue, with qualified institutional buyers bidding 3.25 times their quota, while employee, retail and non‑institutional segments subscribed at 0.23, 0.57 and 0.26 times respectively. Akash Ambani described Jio as a technology firm rather than merely a telecom operator as the offering proceeds.