Mumbai: Investors have given a strong response to Jio Platforms’ ₹30,213-crore IPO, the largest public offering in India’s history. The IPO, which opened on Wednesday morning, was fully subscribed within just 100 minutes. According to the latest figures, the issue has been subscribed 1.14 times, while the portion reserved for Qualified Institutional Buyers (QIBs) has been subscribed 3.68 times. The IPO has received over 1 million applications in the first few hours. The issue will remain open for subscription until October 23.

Investor enthusiasm for Jio’s IPO was evident even before the public issue opened. The anchor investor portion, comprising shares worth approximately ₹8,110 crore, attracted bids exceeding ₹2.5 lakh crore, translating into demand of more than 30 times the shares on offer. LIC received the largest allocation, worth approximately ₹500 crore.

Jio has also set a new record in terms of IPO size. Until now, Hyundai Motor India held the distinction of conducting India’s largest IPO, valued at ₹27,870 crore. Jio’s IPO has been priced in the range of ₹1,065 to ₹1,119 per share.

Notably, even though the IPO has been fully subscribed, eligible shareholders of Reliance Industries have an additional opportunity to secure an allotment. Shares worth up to ₹2,500 crore have been reserved for them. Eligible investors can apply under both the shareholder and retail categories, potentially giving them an additional opportunity to receive shares.