The Rs 30,213 crore public offer of Jio Platforms continues to draw strong bidding from primary market investors on its second day of bidding. Driven primarily by institutional appetite, the issue witnessed accelerated participation across various buyer categories. Market enthusiasm remains high as grey market trends indicate potential listing gains for successful applicants.
Institutional Demand Powers Overall Subscription
By Thursday morning, total bids for the initial public offering reached 3.25 times the available offer size. Investors submitted applications for 64.24 crore shares against the total issue size of 19.75 crore shares. Qualified Institutional Buyers led the charge with a subscription rate of 9.42 times. The institutional quota, which consists of 4.90 crore shares, received bids for 46.15 crore shares, highlighting deep institutional confidence in the digital telecom giant.
Retail and Reserved Category Participation
Non-Institutional Investors subscribed 1.83 times their allocated quota. Meanwhile, the retail portion reached an 89 percent subscription level by 10:30 AM on the second day, collecting bids for 7.07 crore shares out of the 8.50 crore shares set aside for retail bidding. Other specific categories also registered solid turnout: the employee reservation segment was booked 1.47 times, and the shareholder quota saw a subscription level of 1.64 times, reflecting broad interest across all investor classes.
Grey Market Premium and Pricing Details
In the unlisted market, tracking site Investorgain reported a Grey Market Premium of approximately Rs 246 per share. Against the upper limit of the price band fixed at Rs 1,119, this premium implies a potential listing gain of roughly 21.98 percent. The official price band for the public issue has been set between Rs 1,065 and Rs 1,119 per share. While grey market premiums serve as an informal benchmark for market sentiment, they remain subject to fluctuation and offer no guarantee of actual listing performance.
Anchor Book and Bidding Timeline
Prior to opening for public subscription, the company generated overwhelming interest from institutional anchors, receiving demand exceeding Rs 2.5 lakh crore. Consequently, 212 anchor investors were allocated shares worth Rs 8,109.85 crore at the top end of the price band. On the opening day, October 21, total investor bidding amounted to approximately Rs 69,713 crore worth of shares. The subscription window for the public offer will officially close on October 23, with shares expected to make their stock exchange debut on October 28. Potential applicants are advised to review financial fundamentals and risk factors before committing capital.
