Jio Platforms IPO breaks speed records with full subscription in under 100 minutes

Jio Platforms launched India's biggest ever initial public offering on Wednesday, October 21, and secured full subscription in less than 100 minutes. The massive share sale saw rapid demand across investor categories right after opening.

Subscription Numbers And Price Details

By 12:15 pm on Wednesday, the issue was subscribed 1.41 times overall. Qualified institutional buyers led the rush with a 4.10 times subscription, while the retail category reached 0.43 times and non-institutional investors hit 0.54 times. The public offer is an entirely fresh issue of 27 crore shares aiming to raise ₹30,213 crore. The price band for the shares is set between ₹1,065 and ₹1,119 each, with a face value of ₹10. Retail buyers need to apply for a minimum of one lot containing 12 shares, requiring an investment of at least ₹13,428.

Shareholder Quota And Grey Market Premium

Eligible shareholders of Reliance Industries Limited, including individuals and Hindu Undivided Families who held shares on October 14, 2026, can apply through a reserved quota worth nearly ₹2,500 crore. These eligible investors can apply through both the shareholder category and the retail categories, and they can bid at the cut-off price. Meanwhile, the grey market premium stood at ₹250 on Wednesday morning, pointing to an expected listing price of ₹1,369 per share and a potential gain of about 22.34 percent.

Context

Initial public offerings allow private companies to raise funds from the public by selling shares on stock exchanges. A grey market premium reflects unofficial market sentiment on what a stock might list at before trading officially begins. Shareholder quotas in large corporate group IPOs are common ways to reward existing investors in a parent company by reserving specific portions of a new subsidiary's shares for them.