Key Takeaways
- Jio Platforms raised ₹8,110 crore from anchor investors before its IPO launch.
- The ₹30,213 crore IPO received bids worth ₹95,500 crore on Day 1.
- Institutional investors subscribed to their reserved portion 9.02 times by market close.
The Jio Platforms IPO drew strong demand on its first day, with bids reaching ₹95,500 crore as the ₹30,213 crore issue entered its second day on October 22, 2026. The offering, priced between ₹1,065 and ₹1,119 per share, became India’s largest IPO by issue value, surpassing Hyundai Motor India’s ₹27,870 crore offering in 2024.
Jio opens share sale to investors
The Jio Platforms IPO opened on October 21, 2026, and is scheduled to close on October 23. Jio Platforms offered up to 270 million new shares, with the price band set at ₹1,065 to ₹1,119 per share. At the upper end of the range, the company’s proposed valuation stands at about ₹10.3 lakh crore.
Before the Jio Platforms IPO opened to the public, the company raised ₹8,110 crore from anchor investors. The allocation included major domestic and international institutions, including the Life Insurance Corporation of India, BlackRock, and Fidelity Investments.
The IPO is the largest in India by issue value, exceeding Hyundai Motor India’s ₹27,870 crore offering in 2024. Jio’s public listing gives investors an opportunity to buy shares in a business that operates across mobile connectivity, broadband, and digital services.
As of June 2026, Jio had 533.3 million customers through its telecom subsidiary, Reliance Jio Infocomm. Its network carried around 60% of India’s wireless data traffic, according to figures cited in the IPO coverage. The company has also expanded its technology portfolio to include cloud computing, enterprise services, and artificial intelligence.
Jio platforms IPO day 1 demand led by institutional investors
The Jio Platforms IPO was fully subscribed within 100 minutes of opening, based on exchange data. By the end of Day 1, the Jio Platforms IPO had received bids worth around ₹95,500 crore, with total subscription reaching approximately 3.01 times the shares available.
Qualified institutional buyers led demand, subscribing to their reserved portion 9.02 times. Non-institutional investors subscribed 1.59 times their allocated portion, while the employee category reached 1.30 times and the shareholder category 1.38 times. Retail individual investors subscribed to 68% of their reserved shares by the close of Day 1.
The subscription figures show that demand varied across investor groups, with institutional participation outpacing retail applications during the opening day. The IPO remains open until October 23, allowing investors to submit applications during the remaining offer period.
Jio’s financial performance is also central to the offering. Its revenue from operations increased from ₹1.28 lakh crore in FY25 to ₹1.46 lakh crore in FY26. Net profit reached about ₹30,049 crore in FY26, compared with ₹26,109 crore in the previous financial year.
The Jio Platforms IPO values the company at about ₹10.3 lakh crore at the upper end of the price band. Subscription levels over the full offer period and the eventual market price will determine how the shares perform once trading begins.
