Jio Platforms' mega IPO has become the first public offer in the world to cross one crore applications, sources said on Friday.

The figure beats the previously reported global record of about 97 lakh applications, set by Waaree Energies. It also tops earlier Indian record-setters such as Bajaj Housing Finance.

Sources said Jio Platforms' IPO has become the first public offer in the world to cross one crore applications, with five hours still remaining before the issue closes.

They said the response reflects deep investor interest in Jio Platforms. Jio Platforms' IPO had drawn bids for 136.32 crore shares, against 19.75 crore shares on offer, by 12:03 pm on Friday. That is an overall subscription of almost seven times. Institutional demand is leading. Qualified Institutional Buyers bid 70.85 crore shares against 4.90 crore reserved, or 14.46 times. Domestic financial institutions (banks, FIs and insurers) accounted for 34.51 crore shares and foreign institutional investors for 26.95 crore. Mutual funds were much smaller at 4.40 crore. Non-Institutional Investors were at 9.45 times.

Jio Platforms' mega IPO has become the first public offer in the world to cross one crore applications, sources said on Friday.

The figure beats the previously reported global record of about 97 lakh applications, set by Waaree Energies. It also tops earlier Indian record-setters such as Bajaj Housing Finance.

Sources said Jio Platforms' IPO has become the first public offer in the world to cross one crore applications, with five hours still remaining before the issue closes.

They said the response reflects deep investor interest in Jio Platforms. Jio Platforms' IPO had drawn bids for 136.32 crore shares, against 19.75 crore shares on offer, by 12:03 pm on Friday. That is an overall subscription of almost seven times. Institutional demand is leading. Qualified Institutional Buyers bid 70.85 crore shares against 4.90 crore reserved, or 14.46 times. Domestic financial institutions (banks, FIs and insurers) accounted for 34.51 crore shares and foreign institutional investors for 26.95 crore. Mutual funds were much smaller at 4.40 crore. Non-Institutional Investors were at 9.45 times.