Jio IPO fully subscribed in 100 minutes: What drove the demand?

Jio Platforms' ₹30,213-crore IPO was fully subscribed in 100 minutes, driven by strong Qualified Institutional Buyer demand. QIBs subscribed 3.86 times their reserved portion, offsetting cautious response from non-institutional investors. Massive anchor demand exceeding ₹2.5 lakh crore also boosted confidence. Open until October 23, the issue's price band is set at ₹1,065-1,119.