Jio IPO has a flying start, shares subscribed over three times
New Delhi, Oct. 21 -- India's largest initial public offering (IPO) got off to a flying start with Jio Platforms Ltd scoring the highest first-day subscription for any mega share sale, as investors jostled for a pie of the country's largest telecom company.
Investors bid for as much as 3.16 times of Jio Platforms shares on offer on Wednesday, compared to Hyundai Motors India Ltd's 0.42 times and the National Stock Exchange's (NSE) 0.72 times subscription on the first day of the share sale. While Hyundai Motors and NSE raised Rs.27,858 crore and Rs.22,562 crore respectively, Jio will raise Rs.30,213 crore at the upper end of the price band. The early interest underlines strong interest in the long-awaited IPO, which closes for subscriptio...
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