Jio Platforms IPO Sets Global Record with Over 1 Crore Applications

Jio Platforms Ltd's initial public offering (IPO) has made history by becoming the first IPO globally to surpass 1 crore applications, achieving this milestone on its closing day. This achievement eclipses the previous record held by Waaree Energies, which garnered 97 lakh applications. The IPO, valued at $3.2 billion, has seen overwhelming interest from investors, with subscriptions nearing seven times the offered shares.

The IPO opened for public bidding on Wednesday, October 22, 2026, and was fully subscribed within just 100 minutes, marking it as one of the quickest subscriptions in India's market history. Retail investors showed strong enthusiasm, fully subscribing to their portion of the offering, reflecting a positive sentiment towards large public offerings from Indian conglomerates.

As of the latest updates, the demand from qualified institutional buyers (QIBs) has surged, with bids exceeding ten times on the second day of the offering. Current data indicates that QIB demand has reached nearly 15 times, while retail investors have also shown robust interest, with bids surpassing 2.03 times the reserved shares. The total demand for the IPO has now exceeded $15 billion, with bids primarily concentrated at the upper end of the price band set at Rs 1,119.

The IPO has attracted significant interest from anchor investors, including major entities like the Abu Dhabi Investment Authority, BlackRock, and Fidelity, who collectively submitted bids exceeding $25 billion for reserved shares valued at $854 million. This level of investment underscores the strong market confidence in Jio Platforms, the leading telecom company in India.

The IPO is set to close on Friday, and Jio Platforms Ltd is expected to be listed on the stock exchanges on October 28, 2026. This listing is anticipated to further enhance the company's visibility and market presence, potentially setting new benchmarks for future IPOs in the telecom and technology sectors.