New Delhi, Oct. 21 -- Reliance Industries' digital services subsidiary, Jio Platforms, saw its initial public offering (IPO) fully subscribed on the first day of bidding on Wednesday, with strong participation from qualified institutional buyers (QIBs) offsetting relatively muted demand from retail investors.
The issue was subscribed 1.01 times as of 10:34 am, according to stock exchange data. Investors placed bids for around 19.99 crore shares, valued at approximately Rs 22,354 crore at the upper end of the price band, against shares worth Rs 22,078 crore available for subscription.
Institutional investors emerged as the biggest contributors to demand, subscribing to 3.25 times the shares reserved for them. The QIB category received bids...