Jio IPO creates history! Shares list at 21% premium, but what happened after market opening?
Mumbai/IBNS: Shares of Jio Platforms, which launched the country's largest public offering, were listed at Rs. 1,359 apiece on the BSE and NSE on Wednesday, marking a spectacular premium over the issue price, media reports said.
The shares listed at a premium of 21.36% over the IPO price of Rs. 1,119 per share.
However, the shares traded largely flat after the opening bell.
India's largest IPO attracts strong investor demand
The Rs. 30,213-crore IPO, which remained open for subscription from October 21 to 23, witnessed strong investor interest, with the issue subscribed 22.19 times.
The qualified institutional buyers' (QIB) portion was subscribed 70.55 times, while the non-institutional investors' segment received bids for around 14 times its allotted quota.
The retail investor portion was subscribed approximately 2.7 times.
IPO priced at upper end of band
The public offering was priced in the range of Rs. 1,065 to Rs. 1,119 per share, with the final issue price fixed at the upper end of the band.
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