The IPO of Reliance Industries Chairman Mukesh Ambani’s company Jio Platform is getting a great response from investors. On Thursday, the second day of the IPO, it was subscribed a total of 3.64 times. At the same time, the reserve portion for retail investors is also completely filled. The highest demand has been seen from institutional investors.

Strong response from investors

This IPO of Jio platform is worth around Rs 30,213 crore. This is said to be India’s largest IPO ever. This is also Reliance Industries’ first IPO in nearly 20 years. According to stock market data, qualified institutional buyers (QIBs), who fall under the category of institutional investors, bid 9.42 times the reserved shares for themselves. At the same time, the reserved portion for retail investors was fully subscribed within the first two hours of the opening of bidding on the next day.

Investors showed tremendous interest even on the first day of the IPO. The entire issue was subscribed in the first 90 minutes. In big IPOs, there are usually more bids in the last hours, but in Jio’s case, demand was strong from the start.

Investors trust the Reliance brand

According to experts, trust in the Reliance brand is also the main reason behind the huge demand for Jio IPO from retail investors. Investment in Reliance Industries has long been an important source of savings and investment for many Indian households. Shares of Reliance Industries have increased nearly 330 times since 1990. While announcing Jio’s listing in June, Mukesh Ambani called it an emotional moment for himself and the entire Reliance family.

What are Jio’s future plans?

Jio has rapidly promoted digital services in the country with cheap internet and free calling. This made it easier for millions of people to access video streaming, digital payments and online services. Now the company’s future plans will focus on services like 5G network, home broadband, cloud and artificial intelligence (AI). Reliance’s strategy is to expand its presence in retail, technology and consumer services rather than limiting itself to the oil and chemical business.

What could Jio’s valuation be?

The valuation of the Jio platform through the IPO is estimated at $108.3 billion. If the company’s listing is around this estimate, it could become one of the largest companies in India after trading on the stock market. The trading of the company’s shares will start from October 28. The market will now watch how Jio shares perform on the listing day amid strong investor demand.