By the second day of the Jio Platforms IPO, cumulative bids had climbed to ₹3.75 lakh crore, signaling intense investor appetite ahead of the June 29 listing on the NSE and BSE.
The bid book is dominated by institutional and retail investors, with foreign institutional investors (FIIs) contributing a significant share, though exact allocation remains undisclosed in the filing.
Gurmeet Chadha, Managing Partner at Complete Circle, estimates the IPO could inject ₹1.5–2 lakh crore of liquidity into the market in the immediate term, highlighting how the capital raise may temporarily relieve pressure on the broader equity base.
Pranav Haldea, Managing Director at Prime Database, cautions that primary issuances do not necessarily drain secondary market liquidity; he references the 10 largest IPOs in India’s history and notes they did not trigger major index swings over 30 trading sessions.
FIIs have pulled $33 billion from the secondary market this year yet funneled $6 billion into the Jio Platforms IPO, illustrating a selective shift toward marquee names while domestic capital continues to support smaller issues.
Looking ahead, the listing is slated for June 29, and experts anticipate a post‑IPO liquidity uptick that may offset current weak sentiment in small‑ and mid‑cap stocks, especially as themes like defence, electrification, and chemicals attract investor interest.