THEBUSINESSBYTES
BUREAU
MUMBAI,
OCTOBER 23, 2026
Jio Platforms' ₹30,213-crore initial public offering
(IPO) scripted
global history on Friday, attracting bids worth approximately ₹7.40 lakh crore and a record more
than 1.38 crore investor applications, as India's largest-ever public issue
closed with overwhelming demand across investor categories.
The three-day share
sale, which closed at 7 pm on Friday, was subscribed more than 22 times,
underscoring strong investor appetite for the digital services major backed by
billionaire Mukesh Ambani-led Reliance Industries. The total demand comprised
around ₹4.90 lakh crore
in non-anchor bids and ₹2.50
lakh crore in anchor investor demand.
With more than 13.8
million applications, the Jio Platforms IPO has set a world record for the
highest number of applications received by an IPO anywhere in the world,
surpassing the previous benchmark held by Waaree Energies, which had garnered
9.73 million applications in October 2024. Jio's tally exceeded the earlier
record by approximately 42 per cent.
The extraordinary
investor response gathered momentum through the subscription window. The issue
received around 3.05 million applications on the opening day, with the number
crossing 7.5 million by the end of the second day before accelerating sharply
on the final day.
Institutional
investors emerged as the biggest drivers of demand, with the portion reserved
for Qualified Institutional Buyers (QIBs) subscribed 70.55 times. The
Non-Institutional Investors (NII) category was subscribed 14 times, reflecting
substantial demand from high-net-worth individuals and other large investors.
The portion reserved
for eligible Reliance Industries shareholders was subscribed 7.60 times, while
the employee category attracted bids for 2.93 times the shares on offer.
Retail investors also
displayed strong interest in the landmark offering. Against approximately 8.5
crore shares reserved for the category, bids were received for more than 23
crore shares, translating into a subscription of 2.72 times.
The overwhelming
response has brought the spotlight on the share allotment process, particularly
for retail applicants. However, the overall subscription multiple does not by
itself determine an individual investor's chances of securing shares. The final
outcome will depend on valid applications, minimum lot requirements and the
applicable allotment methodology.
Under the announced
schedule, the basis of allotment is set to be finalised on October 26, while
shares are scheduled to be credited to successful applicants' demat accounts on
October 27. Jio Platforms is slated to make its stock market debut on the BSE
and NSE on October 28.
The record-breaking close marks a significant milestone for India's capital markets, with the scale of investor participation placing the Jio Platforms offering among the most closely watched public issues globally. The combination of institutional demand, retail participation and an unprecedented application count highlights the market's keen interest in the company's public-market debut.
The historic closing also coincided with the birthday of Akash Ambani, Managing Director of Jio Platforms, on Friday, October 23, adding a notable personal milestone to a landmark day for the company.
