Jio Platforms IPO Subscribed 1.22x on Day 1 as QIB Portion Books 3.77x
- 21st October 2026
- 11:30 AM
- 4 min read
Summary
Jio Platforms’ ₹30,213 crore initial public offering (IPO) opened for subscription on October 21, 2026, and was fully subscribed by 10:39 am. By 11:12 am, the issue was subscribed 1.22x, led by qualified institutional buyers (QIBs) at 3.77x. Bidding closes on October 23, and listing on BSE and the National Stock Exchange (NSE) is tentatively set for October 28.Mumbai | October 21, 2026
The Jio Platforms IPO is a ₹30,213 crore public issue by the digital services arm of Reliance Industries. It opened on Wednesday, October 21, and was fully subscribed by 10:39 am. By 11:12 am, total demand had risen to 1.22x the shares on offer.
What Are the Jio Platforms IPO Issue Details?
The IPO is entirely a fresh issue of about 27 crore shares. A fresh issue means the company sells new shares and keeps the money it raises. All shares in the issue are newly issued by the company. The issue is expected to value Jio Platforms at around ₹10.3 lakh crore at the upper end of the price band.
| Detail | Value |
| Issue size | ₹30,213 crore |
| Price band | ₹1,065 to ₹1,119 per share |
| Lot size | 12 shares |
| Minimum retail investment (at ₹1,119) | ₹13,428 |
| Employee discount | ₹54 per share |
| Book running lead manager | Kotak Mahindra Capital Co. Ltd. |
| Registrar | Kfin Technologies Ltd. |
Before the issue opened, Jio Platforms raised ₹8,109.85 crore from anchor investors on October 19. Anchor investors are large institutions that commit to buying shares before an IPO opens to the public. The issue also reserves shares for eligible employees and for Reliance Industries Ltd. shareholders.
How Did Investors Respond on Day 1?
As of 11:12 am, the issue was subscribed 1.22x overall. QIBs led demand, booking their portion 3.77x. Retail investors bid 0.32x and non-institutional investors (NIIs) bid 0.36x. Retail investors bid up to ₹2 lakh, while NIIs bid above ₹2 lakh.
| Category | Shares on offer | Subscription (times) |
| QIBs | 4,90,07,828 | 3.77x |
| NIIs | 3,64,44,568 | 0.36x |
| NIIs bidding ₹2 lakh to ₹10 lakh | 1,21,48,189 | 0.50x |
| NIIs bidding above ₹10 lakh | 2,42,96,379 | 0.28x |
| Retail investors | 8,50,37,326 | 0.32x |
| Employees | 46,94,836 | 0.72x |
| Reliance Industries shareholders | 2,23,41,376 | 0.57x |
| Overall | 19,75,25,934 | 1.22x |
The grey market premium (GMP) stood at ₹265, or 23.68% above the upper price band, on October 21, 2026.
Grey market premium is an unofficial indicator based on unregulated trading activity and does not guarantee listing-day performance.
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How Will Jio Platforms Use the IPO Money?
Jio Platforms plans to use ₹27,500 crore to prepay, in full or in part, certain outstanding borrowings of its material subsidiary, Reliance Jio Infocomm Limited (RJIL). The rest will go towards general corporate purposes.
What Does Jio Platforms Do?
Jio Platforms was incorporated on November 15, 2019. It is a technology company focused on digital connectivity, digital services and technology-led solutions in India. Its subsidiary RJIL served 533.3 million customers as of June 30, 2026. Jio Platforms’ wireless broadband network covered more than 99% of India’s population.
| Financial year ended (₹ crore) | March 31, 2025 | March 31, 2026 |
| Revenue (total income) | 1,29,333.00 | 1,49,759.10 |
| Profit after tax (PAT) | 26,120.30 | 30,052.70 |
Revenue rose 16% and PAT rose 15% between the two financial years.
What Are the Key Dates for the Jio Platforms IPO?
| Event | Date |
| IPO opens | October 21, 2026 |
| IPO closes | October 23, 2026 |
| Allotment | October 26, 2026 |
| Refunds and credit of shares | October 27, 2026 |
| Listing (tentative) | October 28, 2026 |
Outlook
Bidding remains open until October 23. Investors can track allotment status once it is finalised.
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