Jio Platforms Ltd, a subsidiary of Reliance Industries Ltd, has set the issue price for its highly anticipated Initial Public Offering (IPO) at ₹1,119 per share. This price marks the upper limit of the IPO's price band. The company's ₹30,213 crore public offering, which included a fresh issue of up to 27 crore shares, generated substantial investor interest.
Record-Breaking Subscription and Demand
The Jio Platforms IPO, which opened last Wednesday and closed on Friday, was subscribed an impressive 22.19 times overall. This demand was primarily fueled by qualified institutional bidders (QIBs), whose category was booked 70.55 times. Non-institutional investors (NIIs) also showed strong interest, subscribing 14 times their allocated quota.
Notably, the IPO became the first ever globally to attract over 1 crore applications, ultimately receiving more than 1.35 crore applications from investors. This surpassed previous records, including Waaree Energies Ltd's 97 lakh applications. Retail investors' portion was booked 2.72 times, while quotas for eligible Reliance Industries Ltd shareholders and employees were subscribed 7.60 times and 2.03 times, respectively.
Ahead of the public offer, Jio Platforms successfully raised ₹8,110 crore from anchor investors at the same price of ₹1,119 per share.
Allotment and Listing Dates Confirmed
The allotment of shares for the Jio Platforms IPO is expected to be finalized today, Monday, October 26. Following this, refunds to unsuccessful bidders are anticipated to be processed by Tuesday. India's largest IPO is then scheduled to make its market debut on Wednesday, October 28.
In the grey market, Jio Platforms was reportedly commanding a grey market premium (GMP) of ₹247. This premium suggested a potential listing gain of approximately 22 percent above the issue price, indicating positive market sentiment towards the offering.
About Jio Platforms
Jio Platforms, a key technology arm of Reliance Industries Ltd, operates a diverse portfolio of services including mobile services, fixed broadband, and various digital platforms. For the financial year 2025-26, the company reported a consolidated net profit of ₹30,064 crore on a revenue of ₹1.47 lakh crore.