Friday blockbuster for Jio IPO: Rs 7.4 lakh crore bids, 22x subscription

What happened: Jio Platforms' initial public offering drew about ₹7.41 lakh crore in bids, with subscription reaching 22.19 times, driven mainly by institutional investors including domestic mutual funds and foreign entities. Key numbers: ₹7.41 lakh crore in bids; 22.19 times subscription; listing scheduled for October 28. Why it matters: The strong institutional demand contrasts with current trends in the secondary market, and the listing date sets the next marker for Jio's position in digital and telecommunications.

Jio Platforms' initial public offering drew about ₹7.41 lakh crore in bids, with subscription reaching 22.19 times, driven mainly by institutional investors including domestic mutual funds and foreign entities.

The strong institutional demand contrasts with current trends in the secondary market, and the listing date sets the next marker for Jio's position in digital and telecommunications.