Reliance Jio IPO oversubscribed 22x with Rs 7.4 lakh crore in bids

Reliance Jio's IPO drew bids worth Rs 7.4 lakh crore against a Rs 30,213 crore target, an oversubscription of 22.19 times. Retail investors bid Rs 4.90 lakh crore, and the issue received 1.38 crore applications, including a record 1 crore. The QIB portion was subscribed 70.55 times and retail 2.72 times.

• Target Rs 30,213 crore; bids reached Rs 7.4 lakh crore
• Oversubscribed 22.19x with 1.38 crore applications in three days
• QIB portion subscribed 70.55x, retail portion 2.72x
• Expected grey market premium at listing: 21–24%