New Delhi, October 2026 : The Rs 30,213-crore initial public offering (IPO) of Jio Platforms was fully subscribed on Wednesday, the first day of bidding, with overall demand reaching 2.5 times the shares on offer by 3:15 pm, according to BSE data.
The issue, described as India's largest-ever public offering, received bids for 49.56 crore shares against 19.75 crore shares offered, reflecting strong demand from institutional investors.
The qualified institutional buyers (QIBs) category led the subscription, with bids reaching 7.46 times the shares reserved for the segment. The non-institutional investors (NIIs) category was subscribed 1.32 times, while the retail investor portion received bids equivalent to 60 per cent of the shares available.
The reservation for shareholders of Reliance Industries Limited (RIL) was subscribed 1.16 times, receiving bids for 2,59,57,068 shares against 2,23,41,376 shares on offer. The employee category was also fully subscribed by the time of reporting.
The IPO will remain open for subscription until October 23, giving investors two more days to place their bids.
Strong Institutional Participation in Anchor Round
Ahead of the public issue, Jio Platforms raised Rs 8,109.84 crore from 212 anchor investors, indicating significant interest from domestic and international institutional participants.
Major sovereign wealth funds and pension investors participated in the anchor allocation. These included Singapore's GIC, Norges Bank Investment Management, Abu Dhabi Investment Authority, Qatar Investment Authority, PSP Investments, the California State Teachers' Retirement System and the Florida Retirement System.
Several leading domestic mutual funds also took part, including SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life, Nippon India and Kotak Mahindra Mutual Fund.
Major insurance companies and pension funds were among the investors as well. Participants included the Life Insurance Corporation of India, HDFC Life, SBI Life, SBI Pension, HDFC Pension, ICICI Prudential and UTI Pension.
The participation of these institutions added to the investor interest surrounding the country's largest public offering.
IPO Price Band Fixed at Rs 1,065–1,119
Jio Platforms has fixed the price band for the issue at Rs 1,065 to Rs 1,119 per share. The offering includes up to 27 crore fresh equity shares.
Investors will be able to subscribe to the issue until October 23. Following the closure of bidding, the allotment of shares is expected to be finalised by October 26.
The company's equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28.
The first-day subscription figures showed particularly strong interest from qualified institutional buyers, while retail participation remained below full subscription at the time of reporting. Subscription levels may change as bidding continues over the remaining days of the IPO.
Market participants will track demand across investor categories through the closing date to assess the final response to the high-profile offering.
(Disclaimer :The content of this article is sourced from a news agency and has not been edited by the Mavericknews30 team.)
