National Stock Exchange of India (NSE) data show Jio Platforms Limited’s IPO attracted bids for 438.26 crore shares against 19.75 crore available outside the anchor allocation, implying about ₹4.68 trillion in estimated excess bid value.
The estimate uses the ₹1,119 upper-end price, with the ₹54-per-share employee discount applied where relevant. On that basis, bids equate to about ₹4,90,340 crore, while shares offered outside the anchor pool equate to about ₹22,078 crore. Their difference is approximately ₹4,68,263 crore. The calculation measures estimated bid value, not a confirmed total of cash held or released. The issue price range ran from ₹1,065 to ₹1,119 a share, and the prospectus gives the offering’s stated size as ₹30,213 crore.
Jio Platforms’ prospectus describes the offering as a fresh issue, with no existing shareholders selling shares. It sets the basis of allotment for on or about Oct. 26, then schedules funds to be unblocked and allotted shares credited on or about Oct. 27.
India’s Application Supported by Blocked Amount (ASBA) system keeps application money in an investor’s bank account while allotment is pending. The bank debits the amount needed for allotted shares and releases the hold on the balance. The Securities and Exchange Board of India (SEBI) says the held money continues to earn interest, so applicants who receive no shares do not need a refund from the issuer.
Demand was also strong among qualified institutional buyers, whose bids reached 70.55 times their allocated portion, NSE data show.
The prospectus schedules trading to begin on or about Wednesday, Oct. 28.
