Jio Platforms’ initial public offering (IPO) received a strong response from investors on its opening day, October 21, becoming fully subscribed within just 100 minutes. The ₹30,213-crore public issue is set to become India’s largest-ever IPO, surpassing Hyundai Motor India’s ₹27,870-crore offering in 2024.
The strong demand was led by Qualified Institutional Buyers (QIBs), whose reserved portion attracted bids several times the number of shares available. By 10 am, the QIB category had received demand for 2.86 times its allotted shares, highlighting strong interest from institutional investors.
IPO Details and Investor Response
Jio Platforms has set the price band at ₹1,065 to ₹1,119 per share. The issue comprises a fresh offering of up to 27 crore equity shares and will remain open for subscription until October 23, 2026. At the upper end of the price band, the company’s valuation stands at approximately $108 billion.Ahead of the public issue, the company raised around ₹8,110 crore through its anchor investor allocation, attracting bids worth more than ₹2.5 lakh crore, according to reports. The strong institutional response reflects investor interest in Jio’s telecom business and its expansion into digital services, artificial intelligence and cloud computing.
The IPO marks a major milestone for Reliance Industries’ digital business as Jio Platforms prepares to enter the stock market. Subscription figures across retail and institutional categories will remain in focus until the issue closes.
