Investment News · 22 October 2026 · 3 min read
In short: Jio Platforms, Reliance’s telecom and digital arm, opened India’s biggest-ever IPO on 21 October. It is raising ₹30,213 crore at ₹1,065–1,119 a share. By the afternoon of day 2 the issue was subscribed 4.38 times, led by large institutions, and retail investors had bid for 1.4 times their share. Bidding closes on Friday, 23 October.
Key details
| Details | |
|---|---|
| Issue size | ₹30,213 crore, all new shares |
| Price band | ₹1,065 to ₹1,119 a share |
| Lot size | 12 shares (₹13,428 at the top price) |
| Retail limit | Up to 14 lots (₹1,87,992) |
| Bidding | 21 to 23 October 2026 |
| Allotment | 26 October (expected) |
| Listing | 28 October on NSE and BSE (expected) |
| Value at top price | About ₹10.3 lakh crore |
How many times it is subscribed
| Investor type | Day 1 (21 Oct) | Day 2 (22 Oct, about 3 pm) |
|---|---|---|
| Institutions (QIB) | 9.04 times | 10.07 times |
| High net worth (NII) | 1.61 times | 4.60 times |
| Retail | 0.73 times | 1.40 times |
| Reliance shareholders’ quota | 1.41 times | 3.36 times |
| Employees | 1.33 times | 1.93 times |
| Overall | 3.04 times | 4.38 times |
Retail demand crossed the full retail portion on day 2, so retail applicants will likely get allotment by lottery.
Before the issue opened, Jio raised ₹8,110 crore from 212 anchor investors, including BlackRock, Capital Group and Fidelity.
What to know before you apply
- Shareholder quota: if you held Reliance Industries shares on the record date, you can also bid in the separate shareholder category, which raises your chances of allotment.
- Where the money goes: ₹27,500 crore will repay debt at Reliance Jio Infocomm. None of it goes to selling shareholders.
- Profits: Jio Platforms earned ₹30,053 crore in FY26, up 15%, on total income of ₹1.5 lakh crore.
- Valuation: at the top price, the shares are priced at about 33 times earnings.
Follow every mainboard and SME issue, with dates and subscription, on our IPO Tracker.
Sources
- Chittorgarh: Jio Platforms IPO details
- Univest: Jio Platforms IPO day 1 subscription
- HDFC Sky: Jio Platforms IPO subscribed 4.38x by 3 pm on day 2
- StartupTalky: Jio Platforms opens ₹30,213 crore IPO (21 October 2026)
This is a news summary for education, not investment advice. Figures are as reported on or before 22 October 2026; check the company’s official filings before making decisions.