Jio Platforms IPO Attracts ₹7.40 Lakh Crore in Bids, Sets Reported Global Record

Jio Platforms’ ₹30,213-crore initial public offering (IPO) has reportedly set a global record by attracting bids worth approximately ₹7.40 lakh crore, including demand from anchor investors. The three-day public issue received more than 1.38 crore applications, making it one of the most closely watched IPOs in the market. By 7 p.m. on Friday, October 23, the issue had been subscribed more than 22 times. Bids from anchor investors were valued at around ₹2.50 lakh crore, while bids from other investor categories amounted to approximately ₹4.90 lakh crore. The strong response highlights substantial investor interest in the offering.

Institutional investors led the demand, with the Qualified Institutional Buyers (QIB) category subscribed 70.55 times, while the Non-Institutional Investors (NII) category recorded 14 times subscription. The retail investor segment was subscribed 2.72 times, while the eligible Reliance Industries shareholders’ category recorded 7.60 times and the employee category 2.93 times. According to the announced schedule, share allotment is expected on October 26, shares are scheduled to be credited to demat accounts on October 27, and listing on the BSE and NSE is planned for October 28. Jio Platforms reportedly surpassed the previous application record held by Waaree Energies, which received 97.3 lakh applications in October 2024. The IPO’s closing on October 23, the birthday of Jio Platforms Managing Director Akash Ambani, was another notable coincidence.