Jio Platforms IPO closes with record 22 times subscription after full booking in 100 minutes

The massive Jio Platforms initial public offering closed with an overall subscription of 22.19 times after breaking records by getting fully booked within just 100 minutes of opening. Backed by Mukesh Ambani-led Reliance Industries Limited, the share sale became India's biggest public issue and attracted the highest-ever bids in the country.

Subscription Breakdown

By the end of the third day on Friday, the qualified institutional buyers led the demand with a massive 70.55 times subscription. Non-institutional investors booked their portion 14 times, while retail investors subscribed 2.72 times. The employee reservation quota saw 2.93 times bidding, and the RIL shareholder quota was subscribed 7.60 times.

Listing Details

Subscription numbers grew steadily across the three days, jumping from 3.16 times on day one and 5.57 times on day two to the final 22.19 times figure on day three, according to BSE data. The issue offered a price band of ₹1,065 to ₹1,119 per equity share, with a face value of ₹10 per share and a fresh issue of 27 crore shares. Media reports put the grey market premium at ₹253, pointing to an expected listing price of ₹1,372 per share and estimated listing gains of 22.61 per cent. Share allotment is set to be finalised on October 26, 2026, on the registrar website Kfin Technologies and exchange platforms, with shares listing on October 28, 2026.

Context

Large share sales by major telecommunications and technology firms draw heavy institutional and retail interest due to the immense scale of the digital and data market in India. The grey market premium is an unofficial indicator of potential listing gains, though final market debuts can vary based on broader stock exchange trends.