New Delhi: Jio Platforms’ initial public offering has created history by crossing 1 crore applications, making it the first IPO globally to reach the milestone. The issue had five hours of bidding left when the landmark was announced, with the final application count expected to rise further.
The company stated that the overwhelming response established a new worldwide benchmark, exceeding the previous reported record of roughly 97 lakh applications received by Waaree Energies. Other Indian market offerings, including Bajaj Housing Finance and BCCL, had previously attracted around 90 lakh applications each.
The public offering was subscribed 7.41 times by 12.24 pm on October 23, 2026, marking the third day of bidding. Within the categories, the retail investor portion saw a subscription of 2.12 times, whereas qualified institutional buyers, excluding anchor investors, subscribed 15.95 times their allotted shares. The non-institutional investor category reached a subscription level of 9.86 times as strong demand persisted ahead of the closing.
The book-built issue is valued at Rs 30,213 crore and consists entirely of a fresh issue of 27 crore shares. The price band was established between Rs 1,065 and Rs 1,119 per share, featuring a lot size of 12 shares. At the upper limit of the price band, retail investors were required to make a minimum investment of Rs 13,428.
Jio Platforms intends to deploy the primary proceeds primarily to clear borrowings incurred by its material subsidiary, Reliance Jio Infocomm Limited. Specifically, Rs 27,500 crore has been designated for the full or partial payment of certain outstanding debts held by RJIL, with the remaining funds allocated for general corporate purposes.
Incorporated on November 15, 2019, Jio Platforms operates as a technology enterprise centered on digital connectivity, diverse digital services, and technology-driven solutions across India. The company has built its proprietary digital technology and extensive nationwide connectivity infrastructure to serve both individual consumers and business clients, backed by a wide distribution network and integrated group synergies.