Jio Platforms IPO: Investors pump nearly 2% of India’s GDP as bids; know the details

Jio Platforms IPO, the first public issue of a consumer-facing business from the Reliance empire, was received with unprecedented enthusiasm. The numbers indicating participation is astounding, especially considering against a falling market ravaged by rising crude oil prices, falling rupee and geopolitical crisis.

Kolkata: The bidding window of Jio Platforms IPO closed yesterday, leaving behind jaw-dropping numbers about investor participation. The Rs 30,213-crore issue was subscribed 22.19 times overall on the third day of the bidding process. While that’s been reported let’s have a look at these numbers from a different perspective.

Since the size of the issue is Rs 30,213 crore and the issue was oversubscribed 22.19 times, the amount of money that has been put as bids by investors is Rs 30,213 crore X 22.19 = Rs 670,426.47 crore. According to official figures, the........

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