Jio IPO Draws Rs. 7.40 Lakh Crore in Bids, Sets World Record for Applications

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Jio IPO Draws Rs. 7.40 Lakh Crore in Bids, Sets World Record for Applications

October 23

20:25 2026

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by indadmin

· Over 13.8 million applications; IPO closes more than 22 times subscribed

· Strong institutional demand pushes QIB subscription past 70 times

· Retail investors bid for 2.72 times the shares on offer

By Payal Banerjee

Mumbai, Oct. 23: India’s biggest IPO closed on a historic high, drawing approximately Rs7.40 lakh crore in total bids, including anchor demand. Jio Platforms’ Rs30,213 crore public issue also set a world record for investor applications, attracting over 13.8 million applications in three days, the highest ever for an IPO anywhere in the world. By the time bidding closed at 7 pm on Friday, the issue was subscribed more than 22 times. The total demand included around Rs 4.90 lakh crore in non-anchor bids and Rs2.50 lakh crore in anchor demand.

Retail investors also showed strong interest in the Jio IPO. Against approximately 8.5 crore shares reserved for retail investors, bids came in for more than 23 crore shares, taking subscription in the category to 2.72 times. The big question now is how many investors will get an allotment. However, the subscription multiple alone does not determine an investor’s chances of receiving shares. Allotment will depend on valid applications, minimum lot sizes and the applicable allotment process.

Institutional investors led the demand, with the Qualified Institutional Buyers (QIB) portion subscribed 70.55 times. The Non-Institutional Investors (NII) category was subscribed 14 times, while the portion reserved for eligible Reliance Industries shareholders was subscribed 7.60 times. The employee portion was subscribed 2.93 times. Under the announced schedule, share allotment is set for October 26, followed by credit to demat accounts on October 27. Jio Platforms is scheduled to list on the BSE and NSE on October 28.

The previous record for IPO applications was held by Waaree Energies, which received 9.73 million applications in October 2024. Jio surpassed that mark by approximately 42%. The IPO had attracted around 3.05 million applications on Day 1, with the number crossing 7.5 million by the end of Day 2. Investor participation accelerated further on the final day.

The IPO’s historic closing also coincided with the birthday of Akash Ambani, Managing Director of Jio Platforms, on Friday, October 23.