Jio IPO Receives Rs 70,000 Crore Bids on First Day
Jio Platforms' initial public offering attracted bids worth Rs 70,000 crore on its first day, oversubscribed by 3.16 times. Institutional investors showed strong interest with a 9.42 times subscription rate, while retail investors subscribed at 0.73 times. Non-institutional investors subscribed 1.68 times. The company plans to use much of the funds to clear debt, signaling confidence in its future.
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