Jio Platforms' initial public offering (IPO) raised about ₹30,213 crore and achieved full subscription within just 100 minutes of opening on October 21, 2026. This rapid response makes it the fastest among India's mega IPOs to reach full subscription, highlighting strong investor interest in the company ahead of its stock market debut.
- Jio Platforms' IPO raised ₹30,213 crore and was fully subscribed in 100 minutes.
- The IPO surpassed Hyundai Motor India's ₹27,870 crore offering in 2024.
- Institutional investors showed strong demand, with the anchor book oversubscribed over 30 times.
- The IPO includes up to 27 crore new shares priced between ₹1,065 and ₹1,119 each.
- Proceeds will support debt repayment at Jio's telecom subsidiary and general corporate purposes.
How does Jio Platforms' IPO compare to other large IPOs in India?
Jio Platforms' ₹30,213 crore IPO is set to become India's largest-ever public issue, surpassing Hyundai Motor India's ₹27,870 crore IPO in 2024. Hyundai's IPO was an offer for sale (OFS) by the parent company and achieved full subscription only by the third day, with just 18% of shares bid for on Day 1.
Other notable IPOs include the National Stock Exchange (NSE) in September 2026, which was fully subscribed by Day 2 after receiving bids for 42% of shares on Day 1. The NSE issue was also an OFS with no fresh shares issued and was subscribed 5.7 times overall.
LIC, India's largest insurer by assets, launched its IPO in May 2022 as an OFS by the government. It was 67% subscribed on Day 1 and fully subscribed on Day 2, with an overall subscription of 2.95 times.
What was the demand like for Jio Platforms' IPO?
Jio Platforms attracted institutional demand of about ₹2.5 lakh crore. Global asset managers, sovereign wealth funds, domestic mutual funds, and insurers were among the investors seeking shares in the Reliance Industries subsidiary.
The anchor book, which raised ₹8,110 crore, was oversubscribed more than 30 times, indicating strong confidence from large investors.
What are the details of the Jio Platforms IPO offer?
The IPO price band was set between ₹1,065 and ₹1,119 per share. The offering includes up to 27 crore new shares. The funds raised will partly support debt repayment at Jio's telecom subsidiary and will also be used for general corporate purposes.
How have other major IPOs performed on their first day?
Several large IPOs in India have had varied subscription rates on their first day:
- Paytm's IPO in November 2021 received bids for only 18% of shares on Day 1.
- HDB Financial Services' ₹12,500 crore IPO in June 2025 received bids for 37% of shares on Day 1.
- LG Electronics India’s ₹11,607 crore IPO in October 2025 was fully subscribed by the end of Day 1 and was subscribed 54 times overall.
- Reliance Power's IPO in 2008 was fully subscribed within one minute and eventually subscribed 70 times overall.
Frequently Asked Questions
Q: What makes Jio Platforms' IPO record-breaking?
A: It achieved full subscription within 100 minutes, the fastest among India's mega IPOs, and raised ₹30,213 crore, making it the largest IPO in India.
Q: Who were the main investors in the Jio Platforms IPO?
A: Institutional investors such as global asset managers, sovereign wealth funds, domestic mutual funds, and insurers showed strong interest, with the anchor book oversubscribed over 30 times.
Q: What will the funds raised from the IPO be used for?
A: The proceeds will partly support debt repayment at Jio's telecom subsidiary and will also be used for general corporate purposes.
