Jio Platforms IPO Sets Record with Over 1 Crore Applications
Jio Platforms' IPO has set a global record by surpassing 1 crore applications, demonstrating significant investor demand.
Jio Platforms Ltd’s initial public offering has made history by becoming the first IPO worldwide to receive over 1 crore applications. This achievement was announced on the final day of bidding, surpassing the previous record held by Waaree Energies, which received 97 lakh applications.
The IPO, valued at $3.2 billion, continues to see robust interest, with subscriptions nearly seven times the shares available. Investors have placed bids for over 147 crore shares against the 19.75 crore shares offered, with anticipation that the final application count may further increase.
Jio Platforms, the largest operator in India’s telecom sector, began its public offering on October 22, 2026, and was fully subscribed within just 100 minutes of opening. This quick uptake reflects a strong shift in sentiment toward public offerings among large Indian companies.
On the second day of bidding, qualified institutional buyers (QIBs) showed immense interest, with their bids exceeding ten times the allocated shares. Demand from QIBs reached nearly 15 times, while retail investors subscribed 2.03 times the available shares.
The IPO saw bids mainly concentrated at the upper price band of ₹1,119, leading to total demand that has now exceeded $15 billion. Anchor investors such as Abu Dhabi Investment Authority, BlackRock, and Fidelity also showed strong interest, with their reserved shares valued at $854 million receiving bids exceeding $25 billion.
As of October 22, 2026, the grey market premium for Jio’s shares was reported at ₹247, predicting a potential listing price of ₹1,366. The interest in Jio’s IPO is being closely watched as a reflection of investor appetite for large listings, particularly amid scrutiny of AI-related stocks.
The IPO will officially close on Friday, October 22, with Jio Platforms set to list on the exchanges on October 28, potentially valuing the company at up to $108.3 billion, which could make it one of India’s largest firms based on market capitalization.
“The strong demand indicates a bullish sentiment among investors,” a market analyst said, reflecting confidence within the investment community regarding Jio’s long-term prospects.
