Reliance Jio Public Issue Opens For Bidding With Massive Early Demand

The initial public offering of Jio Platforms opened for subscription on Wednesday, October 21, and crossed full subscription within hours. By 12:10 PM on opening day, the issue reached a total subscription rate of 1.40 times.

Subscription Details

The segment for qualified institutional buyers saw the strongest early demand at 4.10 times booking. Meanwhile, the portions for shareholders and employees reached 0.76 times and 0.91 times respectively. Retail investors booked 0.41 times their allotted portion, and non-institutional investors reached 0.51 times by midday.

Share Structure

The public issue involves 27 crore fresh shares with a price band set between ₹1,065 and ₹1,119 per share. The company aims to raise about ₹30,213 crore through this offering, which places the overall valuation near $108.3 billion at the upper end of the price band. The bidding window remains open until Friday, October 23, with applications accepted through standard banking channels and broker platforms.

Investor Categories

Specific shares are set aside for different groups. The company reserved over 2.23 crore shares for Reliance Industries shareholders who held stock on or before October 14, 2026, restricted to individuals and Hindu Undivided Families. Permanent employees have nearly 47 lakh shares reserved. Retail investors have access to over 8.50 crore shares, requiring a minimum investment of ₹13,428 for one lot of 12 shares up to a maximum of ₹1,87,992 for 168 shares across 14 lots. High net-worth individuals have over 3.64 crore shares divided between big NIIs investing above ₹10 lakh and small NIIs investing between ₹2 lakh and ₹10 lakh. Eligible Reliance shareholders can also submit two applications under the same Permanent Account Number without fear of rejection, applying once under the shareholder quota and again under the retail or NII quota.

Context

Large corporate public issues draw immense participation from institutional and retail bidders across the country. Investors typically use online banking systems and certified brokers to place bids before the closing date. Companies divide offerings into specific portions to ensure fair distribution among everyday buyers, company staff, and large financial institutions.