Jio Platforms IPO Sets Global Record with Over 1 Crore Applications

As of 4:05 PM, the Jio Platforms IPO is at an overall subscription of 16.25x, with Retail Investor (RII) subscribed at 2.63x, Institutional Investor (NII) at 13.71x, and Qualified Institutional Buyer (QIB) at 47.12x. 

Jio Platforms has already received a total investment demand of ?5 lakh crore for its IPO, which includes ?2.5 lakh crore from anchor investors and ?1.5 lakh crore from public investors.

According to the sources, after Waree Energies, which received an IPO application of 97 lakh, and other Indian IPOs like Bajaj Housing Finance and Bharat Coking Coal Limited (BCCL), which received 90 lakh IPO applications each, Jio Platforms took the lead to become the first issue globally to receive 1 crore IPO applications.

The retail portion was subscribed more than 2 times the number of shares available, with total bids exceeding ?19,000 crore. The eligible employees portion was subscribed 2.5 times, while the existing shareholder quota was subscribed 5.77 times. 

Jio Platforms IPO is India’s largest IPO of 2026 and becomes the first IPO globally to cross 1 crore applications. Jio Platforms is a technology platform that has provided access to digital connectivity and digital services in India since 2016. Today, Jio has a strong customer base of 533.3 Mn (53.3 crore) customers. 

On Wednesday, the Jio Platforms IPO was fully subscribed in under 100 minutes on day 1.

Jio Platforms is raising ?30,213 crore entirely via a fresh issue with no Offer for Sale (OFS) component. Furthermore, the company will use the funds of  ?27,500 crore for repayment of the existing borrowings of Reliance Jio Infocomm.

The book-building price band is ?1,065 to ?1,119 per share, and the lot size is 12 shares. Investors can apply for the Jio Platforms IPO until 5 PM today and are required to make a minimum investment of ?13,428. 

The Jio Platforms IPO allotment will take place on October 26, and the shares will list on NSE and BSE on Wednesday, October 29.