Jio IPO delivers smaller payday for bankers than other mega offerings
Listen to this article in summarized format
AgenciesThe telecom operator paid ₹196 crore in fees to its bankers, equivalent to 0.65% of the ₹30,213 crore issue, India's largest-ever IPO.
Jio Platforms had appointed 19 bankers for the issue, which was fully subscribed within the first 100 minutes of opening on the first day and received more than 22 times subscription by the close. Its shares are scheduled to list on Wednesday.
ET BureauOne 97 Communications and Tata Capital, which raised ₹18,300 crore and ₹15,512 crore, respectively, paid banker fees of ₹324 crore and ₹159 crore, equivalent to 1.77% and 1.03% of their respective issue sizes.
HDB Financial Services, LG Electronics India and Swiggy paid fees to investment bankers equivalent to 0.83%, 1.94% and 2.42% of their respective issue sizes.