Jio IPO Subscription: On Wednesday, the Initial Public Offering (IPO) of Jio Platforms Limited was subscribed 3.16 times against an offer of 19.75 crore shares. The strongest demand came from institutional investors. The offer will remain open for subscription until October 23.
The Rs 30,213 crore Jio IPO was fully subscribed within just 100 minutes of opening on Wednesday, a record for the fastest subscription for a major IPO in India. According to exchange data, by 5:00 PM, investors had placed bids for 62.36 crore shares, with a total value of approximately Rs 69,800 crore.
According to a PTI report, including commitments received from anchor investors earlier this week, the Jio Platforms IPO has garnered a total demand of Rs 77,892 crore. When combining bids from both anchor investors and the public offering, the total demand reaches Rs 3.20 lakh crore.
Key Jio IPO Schedule & Details
| Open Date | October 21, 2026 |
| Close Date | October 23, 2026 |
| Basis of Allotment | October 26, 2026 |
| Refunds & Share Credit | October 27, 2026 |
| Listing Date | October 28, 2026 (BSE and NSE) |
| Price Band | ₹1,065 to ₹1,119 per share |
| Lot Size | 12 Shares |
| Employee Discount | ₹54 per share |
On the first day, the highest demand came from Qualified Institutional Buyers (QIBs). Against the 4.90 crore shares reserved for them, they applied for 46.15 crore shares, amounting to a subscription of 9.42 times their quota.
Non-institutional investors placed bids for 6.13 crore shares, resulting in a subscription of 1.68 times for their category. Retail individual investors applied for 6.18 crore shares, against the 8.50 crore shares reserved for them. Thus, the subscription for their portion stood at 0.73 times.
Although the retail segment did not see a full subscription, this still marks the highest first-day demand for any IPO in the history of the Indian capital market. The portion available for employees was subscribed 1.37 times, while the segment reserved for shareholders saw a subscription of 1.46 times.
A 100-Minute Record
The pace of investor response was particularly noteworthy. Data from the stock exchanges indicates that investors subscribed to all available shares within just 100 minutes of the Jio IPO opening on Wednesday.
This rapid response sets the Jio issue apart from other major public offerings in India. The Bajaj Housing Finance IPO was fully subscribed by 2:00 PM on its opening day, while the LG Electronics India issue reached full subscription by the end of the first day. Hyundai Motor India’s ₹27,870 crore IPO, which previously held the record for the country’s largest public offering, received bids for only 18 percent of its shares on the first day in 2024.
Jio IPO also differs from the offerings by Hyundai Motor India and LG Electronics
The Jio IPO also differs from the offerings by Hyundai Motor India and LG Electronics, both of which consisted entirely of an ‘Offer for Sale’ (OFS) by existing shareholders. In contrast, Jio Platforms is issuing up to 27 crore new shares. The proceeds from these shares will go to the company, rather than to the existing shareholders selling their stakes.
This Jio IPO consists entirely of a fresh issue of 27 crore shares, with a price band set between ₹1,065 and ₹1,119 per share. If the price is set at the upper end of this range, Jio Platforms will raise approximately ₹30,213 crore, bringing its estimated valuation to $108 billion. Neither its parent company, Reliance Industries Limited, nor any other existing shareholder is selling their shares through this offering.
Prior to the public issue, Jio Platforms had raised approximately ₹8,110 crore on October 19 by allocating shares to 212 anchor investors.
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