Business
Rs 30,213 Crore Issue, Rs 7.4 Lakh Crore Demand: The Record-Breaking Numbers Behind Jio IPO
By: News18 Business
Published: 24 October 2026
Photo / Illustration: Haldwani Times News Desk
<p>Jio Platforms rewrote record books in India’s primary market, with its Rs 30,213-crore initial public offering (IPO) attracting bids worth around Rs 7.4 lakh crore and a record 1.38 crore applications. The issue closed on October 23 with an overall subscription of 22.19 times, making it the biggest IPO in India’s corporate history.</p>
<p>The response marks another major fundraising milestone for Reliance Industries’ digital and telecoms business, which had raised $20 billion from 13 strategic and private equity investors in 2020.</p>
<p>Here are the key numbers that explain the scale of Jio Platforms IPO:</p>
<p>With an issue size of Rs 30,213 crore, Jio Platforms overtook previous large offerings to become India’s biggest IPO by issue size. The offering comprises a fresh issue of 27 crore equity shares, with no offer-for-sale component.</p>
<p>At the upper end of its price band of Rs 1,119 per share, Jio Platforms is valued at around Rs 10.3 lakh crore, or more than $100 billion which puts the company among India’s most valuable businesses even before its stock market debut, scheduled for October 28.</p>
<p>The IPO attracted aggregate demand of approximately Rs 7.4 lakh crore, including bids from anchor investors and those placed during the public subscription process. The public issue alone received bids worth around Rs 4.9 lakh crore, while the anchor book attracted institutional bids worth more than Rs 2.5 lakh crore.</p>
<p>Jio’s IPO was fully subscribed within around 100 minutes of opening on October 21, making it the fastest fully subscribed mega IPO in India. Institutional investors led the early rush, with the qualified institutional buyers (QIB) portion of the issue fully subscribed within the first 10 minutes, according to figures shared for the offering. The issue continued to attract bids over its three-day subscription window, eventually closing with an overall subscription of 22.19 times.</p>
<p>Qualified institutional buyers emerged as the biggest source of demand. The QIB category was subscribed 70.55 times, with bids worth approximately Rs 3.87 lakh crore from investors excluding the anchor book, according to figures provided for the issue.</p>
<p>The high-net-worth investor category attracted bids of around Rs 57,000 crore, while retail investors placed bids worth approximately Rs 26,000 crore. The employee portion drew bids of around Rs 1,450 crore and the shareholder category received bids worth approximately Rs 19,000 crore.</p>
<p>Jio Platforms received more than 1.38 crore applications, setting a record for investor participation in an IPO in India and reportedly surpassing previous global benchmarks.</p>
<p>The number highlights the breadth of interest in the issue, particularly among individual investors and existing Reliance Industries shareholders. It also extends the Reliance group’s reach among retail and first-time investors.</p>
<p>The allotment is expected to be finalised on October 26, with the shares scheduled to list on the BSE and NSE on October 28.</p>
<p>Disclaimer: News18 is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.</p>
<p>Jio Platforms' initial public offering was valued at Rs 30,213 crore, making it India's largest-ever IPO. The issue closed on October 23 with an overall subscription rate of 22.19 times.</p>
<p>The allotment for the Jio Platforms IPO is expected to be finalized on October 26, and the shares are scheduled to make their stock market debut on the BSE and NSE on October 28.</p>
<p>The IPO received more than 1.38 crore applications, setting a record for investor participation in India and surpassing previous global benchmarks. This historic turnout made it the world's first public offering to cross the one-crore application milestone.</p>
