JIO IPO OVERSUBSCRIBED AS INDIA MARKET SINKS

Reliance's Jio Platforms closed subscriptions on Friday for India's largest-ever IPO, a $3.6 billion offer that institutional buyers oversubscribed 7.46 times on day one alone. Sovereign wealth funds and global asset managers piled into the anchor book before the sale even opened to retail investors. The demand lands two weeks after the Nifty, which funds like $INDA track abroad, hit a 21-month low on a crude-driven selloff. India's benchmark index can crater and the country's hottest listing still finds buyers.