Mumbai, October 21 (TNA) Jio Platforms’ ₹30,188-crore initial public offering opened for public subscription on Wednesday, marking one of India’s largest-ever share sales and drawing strong demand from institutional and retail investors.
The IPO will remain open until October 23. The price band has been fixed at ₹1,065–₹1,119 per share, while the issue comprises up to 27 crore fresh equity shares, with no offer-for-sale component. The public issue was fully subscribed within hours of opening, according to subscription data. By around 10:44 am, investors had placed bids for approximately 22.58 crore shares against 19.75 crore shares on offer, taking overall subscription to 1.14 times.
Institutional demand leads
Qualified institutional buyers led the early response, with their reserved portion receiving bids significantly above the shares on offer. The non-institutional and retail categories also recorded strong participation during the first day of bidding.
The issue had already generated substantial interest from anchor investors. Institutional bids worth around ₹2.5 lakh crore were reportedly received from more than 70 investors ahead of the public offering.
Minimum investment
Retail investors must apply for at least one lot of 12 shares. At the upper end of the price band, the minimum application amount is ₹13,428, excluding applicable charges. A separate quota has been reserved for eligible Reliance Industries shareholders, while Jio Platforms employees will also have access to a reserved portion of the issue. The shareholder quota is available to eligible Reliance shareholders who held the company’s shares by October 14, subject to the offer rules.
Listing expectations
Jio Platforms’ IPO has attracted attention because of its size, the scale of its digital and telecom operations and its connection with Reliance Industries. Unofficial grey-market indicators had suggested a possible listing premium, but such estimates are not guaranteed and may change before listing. Investors can place bids until October 23. The final allotment will depend on the category-wise subscription and the basis of allotment approved after the issue closes.
Key details
• Issue size: ₹30,188 crore.
• Price band: ₹1,065–₹1,119 per share.
• Lot size: 12 shares.
• Minimum investment: ₹13,428 at the upper price band.
• Subscription period: October 21–23.
• Issue type: Fresh issue of up to 27 crore shares.