Jio Platforms IPO Day 3: Record Applications Cross 1 Crore, Issue Subscribed 7.5x
- 23rd October 2026
- 01:00 PM
- 3 min read
Summary
Jio Platforms' ₹30,213 crore initial public offering (IPO) was subscribed 7.5x as of 12:40 pm on 23 October 2026, its third and final day of bidding. Qualified institutional buyers (QIBs) led demand at 16.27x, while retail investors subscribed their portion 2.14x. The allotment is expected on 26 October, with listing on the BSE and National Stock Exchange (NSE) expected on 28 October.Mumbai | 23 October 2026
An initial public offering is the first sale of a company’s shares to the public. Jio Platforms’ IPO drew bids worth nearly ₹1.7 lakh crore on its final day. It has also drawn a record number of applications.
How Much Has the Jio Platforms IPO Been Subscribed on Day 3?
The issue drew bids for 7.5 times the 19.75 crore shares on offer, excluding the anchor portion. Large institutions led the demand, followed by non-institutional investors. Every category shown below has bid for more shares than it was offered.
| Investor category | Shares offered (crore) | Shares bid (crore) | Subscription |
| QIBs (excluding anchor) | 4.9 | 79.75 | 16.27x |
| Non-institutional investors (NIIs) | 3.64 | 38.04 | 10.44x |
| Retail individual investors (RIIs) | 8.5 | 18.18 | 2.14x |
| Overall | 19.75 | 7.5x |
How Many Applications Has the Jio Platforms IPO Received?
Jio Platforms’ IPO has received more than 1 crore applications, according to exchange data. This surpasses the previous record of about 97 lakh applications, received by Waaree Energies Ltd. The IPOs of Bajaj Housing Finance Ltd and Bharat Coking Coal Ltd each drew about 90 lakh applications.
Which Investors Are Driving Demand?
Of the net offer, 50% is reserved for QIBs, 15% for NIIs and 35% for RIIs. QIBs are large institutions such as mutual funds and banks. RIIs bid up to ₹2 lakh, while NIIs bid above ₹2 lakh. Shareholders of Reliance Industries Ltd can bid up to ₹2 lakh in a separate shareholder portion, and employees have a reserved portion of their own.
What Are the Key Details of the Jio Platforms IPO?
The IPO is entirely a fresh issue of 27.00 crore shares, so the company receives the money raised.
| Detail | Figure |
| Price band | ₹1,065 to ₹1,119 per share |
| Lot size | 12 shares |
| Minimum retail investment | ₹13,428 (at upper end) |
| Issue size | ₹30,213 crore |
What Is the Jio Platforms IPO GMP Today?
The grey market premium (GMP) is the unofficial premium at which IPO shares trade before listing. On 23 October, the GMP stood at ₹254, pointing to an expected listing price of ₹1,373 and a gain of 22.70%.
Grey market premium is an unofficial indicator based on unregulated trading activity and does not guarantee listing-day performance.
Outlook
Bidding closes on 23 October 2026. The allotment is expected to be finalised on 26 October, with refunds and credit of shares on 27 October. The shares are expected to list on the BSE and NSE on 28 October.
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