Jio Platforms IPO Fully Subscribed In 100 Minutes; QIB Demand Hits 3.68 Times

India’s largest initial public offering (IPO), worth ₹30,213 crore, by Jio Platforms received an enthusiastic response from investors, achieving full subscription within 100 minutes of opening on Wednesday.

According to the latest available figures, the IPO was subscribed 1.14 times, while the portion reserved for qualified institutional buyers (QIBs) received subscriptions of 3.68 times.

The issue attracted more than one million applications on its first day, highlighting strong investor interest.

The IPO will remain open for subscription until October 23.

Jio Platforms has set a price band of ₹1,065 to ₹1,119 per share for the issue.

Investor demand was evident even before the public offering opened.

Anchor investors placed bids worth more than ₹2.5 lakh crore against shares worth approximately ₹8,110 crore reserved for them, representing demand exceeding 30 times the allocated portion.

The Life Insurance Corporation of India (LIC) received the largest allocation, worth around ₹500 crore.

The offering has set a new record as India’s largest IPO, surpassing Hyundai Motor India’s ₹27,870-crore issue.

Despite the IPO achieving full subscription, eligible shareholders of Reliance Industries will have an additional opportunity to apply for shares through a reserved portion worth up to ₹2,500 crore.

Eligible investors can apply under both the shareholder and retail categories, potentially giving them an additional opportunity to secure an allotment.

The strong initial response places Jio Platforms’ public offering among the most closely watched market events, with institutional demand and the participation of retail investors expected to remain key indicators as the subscription window continues.

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