Jio IPO subscribed within 100 mins; subscribed over 3x on Day 1

The institutional (QIB) part of the IPO, in which a little over 4.9 crore shares were offered, was subscribed nearly 9.5 times while the high-net-worth investors’ portion, in which about 3.6 crore shares were reserved, was subscribed 1.7 times. Usually, in most initial offerings, institutional players apply on the last day of the offer.