Jio Mega IPO Oversubscribed in 100 Minutes, Bids Cross Record Highs
The 30,213 crore rupees Jio initial public offering has made history after being oversubscribed within 100 minutes, surpassing Hyundai Motor India's 27,070 crore rupees offering. The issue was subscribed 1.65 times overall, with the qualified institutional buyer category receiving bids for 4.86 times the reserved quota. High-net-worth individual subscription touched 63 percent, while the employee portion was fully booked. The anchor book attracted bids exceeding 12.5 lakh crore rupees, with 8,110 crore rupees worth of shares allocated to investors. Plans also outline utilizing up to 27,500 crore rupees to repay or prepay existing borrowings.