Jio Platforms IPO has made history by crossing 1 crore applications, becoming the first initial public offering globally to reach the milestone, according to the company. The landmark was announced on October 23, 2026, with five hours of bidding remaining, leaving room for the final application count to rise further.
The company said the response surpassed the previous reported record of around 97 lakh applications received by Waaree Energies. Other Indian public offerings, including Bajaj Housing Finance and BCCL, had earlier attracted around 90 lakh applications.
The strong response highlights investor interest in Jio Platforms’ digital connectivity and services business, even as investors assess the valuation and risks associated with a large public issue.
Jio Platforms IPO Subscription Reaches 7.41 Times
By 12:24 pm on October 23, the third day of bidding, Jio Platforms’ IPO had been subscribed 7.41 times the shares on offer.
The retail investor category was subscribed 2.12 times, while qualified institutional buyers (QIBs), excluding anchor investors, subscribed 15.95 times their allotted portion. The non-institutional investor (NII) category received subscriptions of 9.86 times its allocation.
Institutional demand was particularly strong, with QIB subscriptions substantially exceeding the portion reserved for the category. The figures reflect subscription levels at the reported time and may change before the issue closes.
Jio Platforms IPO: Price Band, Issue Size and Minimum Investment
Jio Platforms’ IPO is a book-built issue worth ₹30,213 crore, comprising a fresh issue of 27 crore shares, according to the provided details.
Key issue details include:
- Price band: ₹1,065–₹1,119 per share
- Lot size: 12 shares
- Minimum retail investment: ₹13,428 at the upper end of the price band
- Issue size: ₹30,213 crore
The company plans to use most of the proceeds to repay borrowings taken by its material subsidiary, Reliance Jio Infocomm Limited (RJIL). Around ₹27,500 crore has been earmarked for full or partial repayment of specified outstanding borrowings, with the remaining proceeds intended for general corporate purposes.
What Does Jio Platforms Do?
Incorporated on November 15, 2019, Jio Platforms focuses on digital connectivity, digital services and technology-led solutions in India.
The company operates digital technology and connectivity infrastructure serving consumers and businesses. Its strengths include a broad portfolio of consumer and enterprise services, a large customer base, a nationwide distribution network and group-level synergies.
The IPO’s record application count marks a significant milestone for the offering. Investors, however, should assess the issue’s valuation, business prospects and financial risks rather than relying solely on subscription figures when making investment decisions.
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