Jio Platforms IPO Closes Subscribed 22.19 Times, With Institutions Bidding 70 Times Over

Jio Platforms' ₹30,213 crore initial public offering, the largest in India's history, closed on Friday, 23 October 2026, subscribed 22.19 times, according to NSE data up to 7 pm reported by Upstox and India TV. Investors bid for about 438.26 crore shares against roughly 19.75 crore on offer, through more than 1.35 crore applications.

Who bid, and how much

• Qualified institutional buyers: 70.55 times their quota
• Non-institutional investors: 14 times
• Reliance Industries shareholders' reservation: 7.60 times
• Employees: 2.93 times
• Retail investors: 2.72 times

Demand built steadily over the three days: the issue was subscribed 3.04 times on the first day and 5.40 times on the second, and stood at 12.55 times at 3 pm on the final day before late institutional bids more than doubled the total, HDFC Sky reported.

Before the public issue

The company had already raised ₹8,110 crore from 212 anchor investors on 19 October at ₹1,119 a share, the top of the ₹1,065–1,119 price band, after bids of more than ₹2.5 lakh crore for that portion. Most of the money raised will go towards repaying borrowings of Reliance Jio Infocomm.

What happens next

Share allotment is expected to be finalised on Monday, 26 October, and the shares are scheduled to list on NSE and BSE on Wednesday, 28 October. Applicants can check their allotment on the registrar KFin Technologies' website or on NSE's IPO bid-details page, using their PAN or application number. Our complete guide to the Jio Platforms IPO covers the quotas and dates.

In the unofficial grey market, Jio shares were quoted at a premium of about ₹242 on 23 October, India TV reported. Grey market prices are unregulated and are not a reliable guide to the listing price. This story is for information only and is not investment advice.