Jio Platforms’ ₹30,000 crore IPO closed with a staggering ₹5 lakh crore in bids, eclipsing expectations and marking the highest subscription seen in a weak market.
The issue price of ₹1,200 was set after a valuation of ₹1,100, a 9.1% hike over the initial target. Analysts had pegged a pre‑launch valuation of ₹1,050, making the final price a significant upside for early investors.
Allotment of shares will take place on Monday, with the company’s equity slated for a mega listing on the NSE and BSE on October 28. The registration statement indicated a 7% lock‑up period for institutional investors, a standard practice for large IPOs in the telecom sector.
While the Nifty 50 and mid‑cap indices suffered a 2.3% decline last Friday, Jio’s record demand underscores a persistent appetite for high‑growth telecom assets, even as broader market sentiment remains cautious.
Looking ahead, the company’s projected first‑quarter revenue of ₹3,500 crore, a 35% YoY jump, will be closely watched by analysts. The regulatory approval timeline and the impact of the upcoming listing on liquidity dynamics are the next variables to monitor for investors and market watchers alike.