India, Oct. 21 -- Update | October 21, 18:45 IST

Jio Platforms' Rs.30,213 Cr IPO closed its first day with 3.15X subscription, driven by strong demand from institutional investors. Investors bid for 62.3 Cr shares against 19.75 Cr shares on offer.

The qualified institutional buyers' (QIBs) portion was subscribed 9.42X, receiving bids for 46.15 Cr shares against an allocation of 4.9 Cr shares. Domestic financial institutions, including banks and insurance companies, accounted for the largest share of institutional bids at 25.92 Cr shares, followed by foreign institutional investors at 16.18 Cr shares.

The non-institutional investors' (NIIs) portion was subscribed 1.68X, with bids for 6.11 Cr shares against 3.64 Cr shares reserved for th...