Jio IPO Sees 3.16 Times Subscription on Opening Day, Attracts Rs 69,800 Crore in Bids
Jio Platforms Ltd’s initial public offering (IPO) has garnered significant interest, with subscriptions reaching 3.16 times the 19.75 crore shares available. The IPO, which opened on Wednesday, achieved full subscription in just 100 minutes, marking a record for the fastest subscription of a mega IPO in India. The offer will remain open for subscription until October 23.
The IPO has attracted commitments totaling around Rs 77,892 crore, including those from anchor investors secured earlier this week. By 5 PM on the opening day, investors had bid for 62.36 crore shares, with the total value of bids reaching approximately Rs 69,800 crore, according to exchange data. Cumulative demand, including bids from both anchor investors and the public offering, has reached Rs 3.20 lakh crore.
Qualified institutional buyers (QIBs) led the demand, applying for 46.15 crore shares against the 4.90 crore shares reserved for them, resulting in a subscription of 9.42 times their allocated quota. Non-institutional investors submitted bids for 6.13 crore shares, achieving a subscription of 1.68 times their reserved shares. Retail individual investors applied for 6.18 crore shares, which is 0.73 times the 8.50 crore shares set aside for them. Despite not reaching full subscription, the retail segment recorded the highest day-one demand for an IPO in India’s capital market history.
The speed of the response was particularly notable, with all shares on offer subscribed within 100 minutes of the IPO opening. This rapid uptake sets Jio’s offering apart from other large public offerings in India. For comparison, Bajaj Housing Finance’s IPO achieved full subscription by 2 PM on its opening day, while LG Electronics India’s issue was fully subscribed by the end of the first day in 2025. Jio’s IPO consists entirely of a fresh issue of 27 crore shares, with the price fixed between Rs 1,065 and Rs 1,119 per share. If priced at the upper end, Jio Platforms will raise around Rs 30,213 crore, giving it an estimated valuation of $108 billion.
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