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Jio Platforms IPO subscription soars to 22.19X on final day of bidding, QIB demand surges past 70X

India's biggest initial public offering (IPO), Jio Platforms' Rs 30,200-crore issue, witnessed a strong demand during the three-day subscription window. The issue was subscribed 22.19times, with investors bidding for 438.26crore shares against 19.75 crore on offer, with institutional investors driving demand. Qualified Institutional Buyers (QIBs) bid 345.75crore shares against 4.90 crore reserved, or 70.55times. Retail Individual Investors bid 23.11 crore shares against 7.60crore shares on offer, or 2.72times. Shareholders' reservation portion is at 7.60times, while the employee reservation is at 2.93times. Non-Institutional Investors were at 14.00times. The IPO comprisedan entirely fresh issue of 27 crore shares.