Jio Platforms IPO Day 3 Live Updates: The initial public offer of Jio Platforms Limited received 6.85 times subscription so far on the third day of bidding on Friday, October 23.

The company's IPO received bids for 1,35,32,63,160 shares against 19,75,25,934 shares on offer, as per data available with the NSE until 12:01 pm.

The portion reserved for qualified institutional buyers (QIBs) fetched 14.35 times subscription, and the category for non-institutional investors received 9.35 times subscription. The retail investors portion was subscribed 2.01 times.

Jio Platforms IPO Day 3 Live Updates: Jio Platforms' initial share sale has fixed a price band of ₹1,065 to ₹1,119 per share.

Jio Platforms IPO Day 3 Live Updates: Jio Platforms will use up to ₹27,500 crore of the proceeds to repay borrowings at its wholly owned telecom subsidiary, Reliance Jio Infocomm Ltd, with the remaining funds available for growth capital expenditure and working capital needs.

Jio Platforms IPO Day 3 Live Updates: Jio Platforms, in which Reliance Industries owns a 66.4% stake, is seeking to raise about ₹30,213 crore at the upper end of its price band of ₹1,065-₹1,119 per share. The offering comprises entirely of fresh shares.

Jio Platforms IPO Day 3 Live Updates: Jio Platforms IPO has been subscribed 6.15 times so far on Friday, October 23, the final day of bidding. It received bids for 1,21,44,25,812 shares against 19,75,25,934 shares on offer.

Qualified institutional buyers (QIBs) quota received 13.56 times subscription, according to the latest cumulative demand data on NSE until 10:28 am.