Jio Platforms IPO Sees Massive Demand, Sets Application Record

Reliance Industries’ digital services arm, Jio Platforms (JPL), received an overwhelming response to its initial public offering (IPO), which closed on Friday. The issue aimed to raise ₹30,213 crore, with bids for the shares offered exceeding the available quota by 22.19 times. Combined demand from public investors and anchor investors crossed ₹7.4 lakh crore, while the total number of applications reached nearly 1.39 crore. Excluding the anchor investor allocation, the public issue attracted bids worth more than ₹4.9 lakh crore. Retail investors alone placed bids worth over ₹25,867 crore.

Qualified institutional buyers subscribed to their portion 70.55 times, with strong participation from domestic banks, financial institutions, insurance companies, foreign institutional investors and mutual funds. The non-institutional investor category was subscribed 14 times, while the retail investor segment recorded 2.72 times subscription. Reliance Industries shareholders’ and employee categories were subscribed 7.60 times and 2.93 times, respectively. On the 19th of this month, the company allotted shares worth ₹8,110 crore to 212 anchor investors; this segment had also attracted bids at around 30 times its allocation. JPL surpassed the application record set by solar equipment maker Waaree Energies in October 2024. Jio Platforms is expected to be valued at approximately $108 billion (around ₹10.26 lakh crore), with Reliance Industries retaining a 66.4% stake.