Jio Platforms IPO becomes first ever issue to get over 1 crore applications

The Jio Platforms IPO has become the first issue globally to receive more than one crore applications, capping a record-breaking subscription that closed at 22.19 times on Friday.

The Rs 30,213-crore offer drew bids across investor categories, with qualified institutional buyers subscribing 70.55 times their portion, underlining heavy institutional demand for the Reliance group's digital arm.

Allotment is expected on October 26, with the listing slated for October 28, when the stock will be watched closely as a bellwether for appetite in large Indian technology listings.

The record application count adds to a week of milestones for the offer, which had already set domestic subscription records during its three-day run.