Jio IPO Draws ₹7.4 Lakh Crore, 1.38 Crore Bids
Mukesh Ambani-led Jio Platforms has recorded an unprecedented response to its ₹30,213-crore initial public offering (IPO), attracting approximately ₹7.4 lakh crore in combined investor bids and 1.38 crore applications. The offering closed on Friday, October 23, 2026, with public subscriptions reaching 22.19 times the shares available, establishing new benchmarks for India’s capital markets.
Jio IPO Attracts ₹7.4 Lakh Crore in Bids
Jio Platforms, the telecommunications and digital services subsidiary of Reliance Industries, attracted strong participation from domestic and international investors.
Qualified institutional buyers subscribed to 70.55 times their allocation, while non-institutional investors subscribed 14 times.
Retail investors submitted applications worth approximately ₹26,000 crore, resulting in subscription of 2.72 times their reserved portion.
The ₹7.4 lakh crore figure includes demand from anchor investors, while public bidding alone accounted for approximately ₹4.9 lakh crore.
Jio IPO Sets Record With 1.38 Crore Applications
The offering reportedly attracted a record 1.38 crore investor applications, surpassing previous global IPO application benchmarks.
Major institutional participants included BlackRock, Fidelity, Abu Dhabi Investment Authority and domestic financial institutions.
The IPO became fully subscribed within approximately 100 minutes of opening on October 21.
At the upper price band of ₹1,119 per share, Jio Platforms is valued at approximately ₹10.3 lakh crore, equivalent to $109 billion.
Jio Share Listing Scheduled for October 28
Jio shares are scheduled to begin trading on the Bombay Stock Exchange and National Stock Exchange on October 28.
The company serves approximately 53.3 crore telecommunications customers and is expanding into broadband, enterprise technology and digital services.
Jio aims to connect 10 crore homes through broadband while pursuing opportunities in India’s expanding enterprise digital services market.
The strong subscription response highlights investor demand for established digital infrastructure businesses despite challenging conditions in India’s broader equity markets.
