Jio Platforms' IPO draws record Rs 7.3 lakh crore in bids ahead of listing

Jio Platforms' initial public offering attracted Rs 7.3 lakh crore in bids, the largest ever for a public issue in India, as the telecom‑to‑digital group prepares to list today on the Bombay Stock Exchange and the National Stock Exchange. The IPO, sized at Rs 30,213 crore, was subscribed 22.19 times, showing intense investor appetite. Institutional investors drove the frenzy, with qualified institutional buyers bidding 70.55 times their allotted quota on the final day. Investment banks expect the final issue price to be set at the top of the band, Rs 1,119 per share. At that price, Jio could be valued at up to $108.3 billion and its market capitalisation may exceed Rs 10 lakh crore, putting it among the country's five most valuable firms. The company already serves over 530 million customers. Demand for the Rs 8,110‑crore anchor book was more than 30 times the amount on offer, and total institutional demand reached nearly Rs 2.5 lakh crore. The listing comes despite a weak market environment marked by high crude oil prices, rising inflation, higher bond yields and elevated interest rates. ## Context Such massive oversubscription signals strong confidence in Jio's growth prospects even as broader market sentiment remains cautious. High institutional participation often indicates belief that the company can deliver returns despite macro‑economic headwinds.