THEBUSINESSBYTES
BUREAU
MUMBAI,
OCTOBER 23, 2026
Jio Platforms' Rs
30,213-crore initial public offering (IPO) has created history by crossing 10
million applications for the first time in India's stock market, setting a
global milestone as bidding entered its final day on Friday.
The public issue had
received 10,015,118 applications and was subscribed 6.89 times as of 12 noon on
the third and final day of bidding, with the portion reserved for Qualified
Institutional Buyers (QIBs) witnessing 14.38 times subscription.
The milestone
surpasses the previous record set by Waaree Energies, whose IPO attracted 9.73
million applications in October 2024. Jio Platforms has thus emerged as the
first IPO in India, and the first globally, to cross the 10-million-application
mark, according to the figures provided.
Investor enthusiasm
for the country's biggest IPO has gathered momentum since the issue opened on
October 21, with application numbers climbing sharply over the three-day
subscription period.
The IPO attracted
around 3.05 million applications on the first day, when it was subscribed 3.16
times. By the close of the second day, the number of applications had crossed
7.5 million, while overall subscription rose to 5.57 times.
Demand remained
robust across investor categories, with all major segments fully subscribed.
The non-institutional investors' (NII) portion was subscribed 9.38 times, while
the retail individual investor segment received bids for 2.07 times the shares
reserved for it.
The employee portion
was subscribed 2.48 times, while the category reserved for eligible
shareholders of Reliance Industries saw 5.68 times subscription.
The strong response from
institutional and non-institutional investors, alongside participation from
retail investors, has helped the issue set a new benchmark in India's primary
market.
Bidding for the IPO closes at 7 pm on Friday, the final day of the offer. Subscription levels and the number of applications could rise further before the issue closes, as investors have time until the deadline to submit their bids.
The record application count marks a significant milestone for India's capital markets, highlighting the scale of investor participation in the country's largest-ever public issue.
