New Delhi, Oct. 21 -- Jio Platforms' initial public offering (IPO) was subscribed 3.02 times on the first day of bidding on Wednesday, with investors placing bids for 59.55 crore shares against 19.75 crore shares on offer, according to BSE data as of 5:24 pm.

Qualified institutional buyers (QIBs) led the demand, subscribing to their allotted portion 9.02 times. The non-institutional investor category was subscribed 1.59 times, while the retail investor portion received bids for 0.69 times the shares reserved for it.

The employee quota was subscribed 1.30 times, while the shareholder portion was subscribed 1.39 times, the data showed.

The IPO opened for subscription on October 21 and will close on October 23. Jio Platforms has fixed the...