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Jio IPO Today: 19 Lead Managers Shared Just ₹196.2 Crore, 60% Less Than Hyundai
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
Hyundai Motor India paid ₹493 crore to its five book-running lead managers for a ₹27,870 crore IPO in 2024, or 1.77% of the issue size. Jio Platforms, whose ₹30,213 crore offer is about 8% larger, paid its bankers only ₹196.2 crore, equal to 0.65% of the issue. That pool was split among 19 lead managers, giving an average of roughly ₹10.3 crore per bank, compared with nearly ₹99 crore each for Hyundai’s bankers. Overall IPO expenses followed the same pattern, at ₹470 crore or 1.56% for Jio against ₹624 crore or 2.2% for Hyundai. Market observers credit Reliance’s bargaining power, since banks compete for league-table credit and long-term ties with the group. Jio’s offer also drew 22 times subscription, compared with 2.4 times for Hyundai.
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