Jio IPO Fully Subscribed in Under Two Hours
Mukesh Ambani-led Jio Platforms’ $3.2 billion initial public offering (IPO) was fully subscribed within two hours of opening for public bidding on Wednesday, October 21, 2026. The offering, India’s largest-ever IPO, attracted strong institutional demand and marked the first public share sale by Reliance Industries in two decades.
Jio IPO Fully Subscribed Within Two Hours
Jio Platforms opened its public offering with a price band of ₹1,065 to ₹1,119 per share. The subscription window will remain open until October 23, with stock market trading scheduled to begin on October 28.
Institutional investors bid for 3.25 times their reserved allocation during early trading, while retail investors subscribed to approximately 22% of their allotted portion.
The IPO values Jio Platforms at up to $108.3 billion, potentially placing it among India’s most valuable listed companies.
BlackRock and Global Investors Back Jio IPO
Ahead of the public offering, Jio allotted shares worth approximately $853 million to institutional investors, including BlackRock and the Abu Dhabi Investment Authority.
The anchor investor allocation attracted bids exceeding $25 billion, highlighting substantial international interest in the company’s business.
Jio Platforms operates India’s largest telecommunications network, serving more than 500 million subscribers. Its investors include global technology companies Meta and Google.
Mukesh Ambani’s Jio Targets Digital Growth
Launched in 2016, Reliance Jio transformed India’s telecommunications market through affordable mobile data and voice services.
The company reported approximately $15.5 billion in annual revenue and $3.2 billion in profit for the financial year ending March 2026. Telecommunications contributed around 90% of revenue and profit.
Led by Akash Ambani, Jio continues expanding its digital ecosystem across connectivity, cloud services and artificial intelligence.
The record offering represents a significant development for India’s capital markets and provides investors with an opportunity to participate directly in Jio’s expanding digital business.
