Jio Platforms IPO makes history with over 1 crore applications

Incorporated on November 15, 2019, Jio Platforms is a technology company focused on digital connectivity, digital services and technology-led solutions in India.

In Short

• Jio Platforms IPO crosses 1 crore applications, a global first
• IPO subscribed 7.41 times by midday on third bidding day
• Retail portion subscribed 2.12 times, QIBs 15.95 times

Jio Platforms’ initial public offering (IPO) has created history by crossing 1 crore applications, making it the first IPO globally to reach the milestone, according to the company. The issue had five hours of bidding left when the landmark was announced, with the final application count expected to rise further.

The company said the response had set a new global benchmark, surpassing the previous reported record of around 97 lakh applications received by Waaree Energies. Bajaj Housing Finance and BCCL were among the other Indian IPOs that had earlier attracted around 90 lakh applications.

JIO PLATFORMS IPO SUBSCRIBED 7.41 TIMES

Jio Platforms’ IPO was subscribed 7.41 times by 12.24 pm on October 23, 2026, the third day of bidding.

The retail investor portion was subscribed 2.12 times, while the qualified institutional buyers (QIBs), excluding anchor investors, subscribed 15.95 times their allotted portion. The non-institutional investor (NII) category was subscribed 9.86 times.

The strong response came as the issue continued to attract applications from investors ahead of its closing.

JIO PLATFORMS IPO DETAILS

Jio Platforms’ IPO is a book-built issue worth Rs 30,213 crore. The offering comprises a fresh issue of 27 crore shares worth Rs 30,213 crore.

The price band has been set at Rs 1,065 to Rs 1,119 per share, while the lot size is 12 shares. At the upper end of the price band, the minimum investment required from a retail investor is Rs 13,428.

Jio Platforms plans to use the proceeds from the issue mainly to repay borrowings taken by its material subsidiary, Reliance Jio Infocomm Limited (RJIL).

Of the total proceeds, Rs 27,500 crore has been earmarked for the full or partial repayment of certain outstanding borrowings of RJIL. The remaining proceeds will be used for general corporate purposes.

WHAT DOES JIO PLATFORMS DO?

Incorporated on November 15, 2019, Jio Platforms is a technology company focused on digital connectivity, digital services and technology-led solutions in India.

The company has developed its own digital technology and nationwide connectivity infrastructure to provide digital services to consumers and businesses.

Its key strengths include its position in digital connectivity and services, a diversified portfolio of consumer and enterprise offerings, a large customer base across India, a nationwide digital distribution network and synergies within the group.

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