Jio Platforms IPO Sets Global Record With 1.39 Crore Applications

Platforms IPO graphic highlighting its global record of 1.39 crore applications, with a Jio-branded smartphone and rising growth chart
Jio Platforms’ IPO received approximately 1.39 crore applications
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Jio Platforms’ IPO ₹30,213-crore, has set a global record, attracting approximately 1.39 crore applications and surpassing the previous reported record of 97.34 lakh applications received by Waaree Energies in 2024. The public issue closed on October 23, 2026, drawing unprecedented interest from retail investors, institutions, employees and existing Reliance Industries shareholders.

The IPO received bids for more than 22 times the shares on offer, with demand extending well beyond the public issue into its anchor-investor allocation. The strong response makes the listing one of the most closely watched market events of the year, with Jio Platforms scheduled to debut on the stock exchanges on October 28.

Jio Platforms IPO: Quick Highlights

  • Issue Size: ₹30,213 crore.
  • Total Applications: Approximately 1.39 crore, a global record.
  • Overall Subscription: 22.19 times.
  • Price Band: ₹1,065 to ₹1,119 per share.
  • Total Demand: Public-issue bids exceeded ₹4.9 lakh crore.
  • Previous Application Record: Waaree Energies, with about 97.34 lakh applications in 2024.
  • Allotment Date: October 26, 2026.
  • Listing Date: October 28, 2026.

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Jio Platforms IPO Subscription and Investor Demand

The IPO attracted bids for approximately 438.3 crore shares against 19.75 crore shares on offer, translating into an overall subscription of 22.19 times. Institutional investors led demand, while retail investors and existing Reliance Industries shareholders also contributed to the strong response.

Qualified institutional buyers subscribed to their allocated portion more than 70 times, while non-institutional investors subscribed around 14 times. Retail investors subscribed approximately 2.7 times their allocation, according to the final subscription data.

The application count is particularly significant because it measures the number of applications submitted, rather than the value of shares investors sought. The record reflects broad participation across investor categories, although an application does not guarantee share allotment.

Why Jio Platforms’ IPO Is a Global Record

Jio Platforms crossed the one-crore application mark before bidding closed, becoming the first public offering globally reported to reach that milestone. It surpassed Waaree Energies, whose October 2024 IPO received approximately 97.34 lakh applications.

The final application count climbed to around 1.39 crore, underlining the scale of investor interest in the telecom and digital services business. The record also highlights the depth of India’s retail-investor participation in large public offerings.

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Jio Platforms IPO Valuation and Listing Date

At the upper end of the ₹1,119 price band, the IPO values Jio Platforms at approximately US$108.3 billion. The company operates one of India’s largest mobile networks, serving more than 500 million users, and has Meta Platforms and Google among its investors.

Jio Platforms is led by Akash Ambani and forms part of the Reliance Industries group controlled by Mukesh Ambani. Its stock-market debut is scheduled for October 28, following allotment finalisation on October 26 and the expected processing of refunds and share credits on October 27.

What the IPO Response Means for Investors

The record demand demonstrates strong investor interest in Jio Platforms, but subscription figures alone do not establish whether the shares are attractively valued or how they will perform after listing. The listing price will depend on market conditions, investor expectations and the company’s business outlook.

Investors awaiting allotment can check the registrar’s official IPO-status portal after the basis of allotment is finalised. The key dates are October 26 for allotment and October 28 for listing, subject to the published IPO schedule.

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