Jio Platforms' Rs 30,213-crore initial public offering — yaani roughly Rs 0.30 lakh crore, India's biggest-ever IPO — was subscribed 3.37 times overall by 10:33 am on Thursday, October 22, the second day of bidding, according to the cumulative demand schedule reported by The Hindu BusinessLine. Investors had bid for 66.66 crore shares against 19.75 crore shares on offer across categories.

Source: The Hindu BusinessLine

Qualified institutional buyers (QIBs) again led the demand: their portion was subscribed 9.42 times, with bids for 46.15 crore shares against 4.90 crore shares allocated. Domestic financial institutions accounted for the largest share of QIB demand, bidding for 25.91 crore shares, followed by foreign institutional investors with 16.18 crore shares.

The non-institutional investor (NII) portion was subscribed 2.07 times, the employee reservation 1.57 times and the reservation for Reliance Industries shareholders 1.88 times, while the retail individual investor category reached 0.94 times — close to full subscription.

A slightly earlier snapshot from Upstox, based on NSE cumulative demand data at 10:15 am, put overall subscription at 3.32 times with QIBs at 9.42 times, broadly matching the later BusinessLine figures and confirming the pace of bidding.

Source: Upstox

3.37xoverall subscription by 10:33 am on Day 2
9.42xQIB (institutional) portion
₹30,213 croreissue size — India's largest IPO
23 Octbidding closes

The issue is a fresh issuance of 27 crore shares with no offer-for-sale component, priced in a band of Rs 1,065 to Rs 1,119 per share. It opened on October 21 — when it was fully subscribed within about 100 minutes — and closes on October 23. The basis of allotment is expected to be finalised on October 26, with listing on the NSE and BSE scheduled for October 28.