Reliance Jio IPO: Reliance Industries-backed Jio Platforms has created a global record in the primary market, becoming the first initial public offering (IPO) worldwide to attract more than 1 crore applications. The landmark milestone was achieved on Friday, October 23, with four hours of bidding remaining, as investors rushed to participate in one of India’s most closely watched public offerings.
The previous record belonged to Waaree Energies, which received approximately 97 lakh applications during its three-day subscription period. Bajaj Housing Finance and Bharat Coking Coal followed, having attracted nearly 90 lakh applications each.
The Jio Platforms offering has also drawn significant institutional interest. The company has received aggregate demand exceeding ₹4 lakh crore, comprising approximately ₹2.5 lakh crore from anchor investors and another ₹1.5 lakh crore from public investors.
Reliance Jio IPO Subscription
As of 1:20 pm on Friday, the IPO was subscribed 7.93 times the total number of shares on offer. The qualified institutional buyers’ (QIB) category was subscribed 16.87 times, while the non-institutional investor (NII) portion received bids equivalent to 10.90 times the shares reserved for the category.
Retail investor participation was also strong at 2.23 times. Retail bids crossed ₹21,250 crore, equivalent to more than $2 billion. The portion reserved for eligible employees was subscribed 2.59 times, while the quota for existing shareholders of Reliance Industries received 6.29 times subscription.
The issue was bid for 156.58 crore shares as against 19.75 crore shares on offer.
The strong subscription figures came after institutional demand for the anchor investor portion exceeded ₹2.5 lakh crore, more than 30 times the amount available in that segment.
Jio Platforms IPO GMP signals potential 21% listing premium
The grey market premium (GMP) for the Jio Platforms IPO indicated the possibility of a strong listing, although grey market indications are unofficial and do not guarantee listing gains.
According to grey market sources cited in the supplied information, the IPO’s GMP stood at ₹254 on Friday morning. At the upper end of the issue price band of ₹1,119 per share, this implied an indicative listing price of ₹1,373, representing a premium of approximately 22.70%.
Jio Platforms has allotted shares worth ₹8,109.85 crore to 212 anchor investors at the upper end of its price band. The strong anchor demand provided an early indication of institutional interest in the offering before the public subscription period concluded.
Jio Platforms IPO details: Price band, allotment and listing dates
The Jio Platforms IPO opened for subscription on October 21 and is scheduled to close on October 23, 2026. The issue price band has been fixed at ₹1,065- ₹1,119 per share, with a face value of ₹10 per equity share.
The offering comprises a fresh issue of 27 crore equity shares, amounting to approximately ₹30,213 crore. The lot size is 12-13 shares, according to the supplied IPO details. KFin Technologies has been appointed as the registrar for the issue.
The tentative allotment date is October 26, 2026, while the shares are scheduled to list on the BSE and NSE on October 28, 2026.
With the issue drawing more than 1 crore applications and aggregate demand exceeding ₹4 lakh crore, Jio Platforms has established a major milestone in global IPO participation. Investors will now watch the final subscription figures, allotment process and eventual stock market debut to assess how the unprecedented demand translates into listing-day performance.
Key IPO Details
• Opening Date: October 21, 2026
• Closing Date: October 23, 2026
• Price Band: ₹1,065 to ₹1,119 per share
• Face Value: ₹10 per share
• Issue Size: Fresh issue of 27,00,00,000 equity shares (approx. ₹30,213 crore)
• Lot Size: 12–13 shares
• Registrar: KFin Technologies Limited
• Listing Exchanges: BSE and NSE
• Tentative Allotment Date: October 26, 2026
• Tentative Listing Date: October 28, 2026
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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