Jio Platforms IPO subscription status since October 21, 2026

Jio Platforms, the digital and telecom arm of Mukesh Ambani's Reliance Industries, opened its initial public offering (IPO) on Wednesday, 21 October 2026, at a price band of ₹1,065 to ₹1,119 a share. On that first day, 21 October 2026, the issue was subscribed 3.04 times, and by the close on Friday, 23 October, more than 21 times, according to Chittorgarh and HDFC Sky. At the top of the band, the issue raises about ₹30,213 crore (about $3.1 billion) and values the company at roughly ₹10.3 lakh crore (about $106 billion).

That makes it India's largest IPO, ahead of Hyundai Motor India's ₹27,870 crore issue in October 2024 and LIC's ₹21,008 crore in May 2022, according to Outlook Money.

Key points

• Subscription status on 21 October 2026 (day 1): 3.04 times, with institutions at 9.04 times and retail at 0.73 times.
• Subscription period: 21 to 23 October. Anchor investors bid on 19 October.
• Final subscription: 22.19 times overall by the close on 23 October, according to NSE data until 7 pm reported by Upstox and HDFC Sky.
• Allotment expected 26 October; listing on BSE and NSE expected on 28 October, according to Upstox and HDFC Sky.
• All fresh shares, no offer for sale; proceeds mainly to repay borrowings of Reliance Jio Infocomm.
• Minimum bid: 12 shares, about ₹13,428 at the upper band.
• This article is news, not investment advice.

Jio Platforms IPO: the key details

Price band: ₹1,065 to ₹1,119 per share.

Issue size: a fresh issue of about 27 crore (270 million) shares, raising up to ₹30,213 crore at the upper band. Because every share is new, the money goes to the company, not to existing shareholders selling out.

Lot size: 12 shares, so the minimum application at the upper band is ₹13,428.

Reservations: up to ₹500 crore for eligible employees, who get a ₹54 discount per share, and up to ₹2,500 crore for eligible individual shareholders of Reliance Industries as of 14 October 2026. The rest is split between institutional buyers, high-net-worth investors and retail investors; reports put the retail share at 35%.

Dates: anchor investor bidding on Monday, 19 October; public subscription from 21 to 23 October; basis of allotment expected on 26 October. Reports differ on listing day: Outlook Money gave 29 October, while other trackers listed 28 October. Check the final prospectus for the confirmed timetable.

Jio Platforms IPO subscription status, 21 to 23 October 2026

Bidding opened on Wednesday, 21 October 2026. By the end of that first day the issue was subscribed 3.04 times, led by institutional buyers at 9.04 times, according to HDFC Sky and Chittorgarh. It rose to 5.40 times on day two and closed on day three at more than 21 times.

Source: Chittorgarh day-wise data, combining NSE and BSE; HDFC Sky reported the same day one figures. For the hour-by-hour final day, application-wise figures and how to check the status, read our full report: Jio IPO subscription status, history made with 1.37 crore applications.

Subscription status on October 21, 2026 (day 1)

Demand came quickly on the opening day. The issue was fully subscribed within about 100 minutes of opening on 21 October, the fastest among India's mega IPOs, Business Today reported. By the end of the day it was subscribed 3.04 times overall, according to HDFC Sky and Chittorgarh:

• Qualified institutional buyers: 9.04 times, the main driver on day one.
• Non-institutional investors: 1.61 times.
• Retail investors: 0.73 times, so the retail portion was not yet full at the end of day one.
• Employees: 1.33 times.
• Reliance shareholders' quota: 1.41 times.

Figures published during the day were lower, because bids kept coming in until the evening, so check the time of any day-one figure you see. Retail demand built up over the next two days and the retail portion closed 2.76 times subscribed.

Final subscription

Bidding closed on Friday, 23 October. The issue was subscribed 22.19 times overall, according to cumulative NSE data until 7 pm reported by Upstox and HDFC Sky.

Sources: Upstox and HDFC Sky (overall, institutional, non-institutional and retail figures); HDFC Sky and IPO Guru (employee and shareholder quotas). These are NSE figures; Chittorgarh's combined NSE and BSE data put the close at 21.36 times. The final figures appear in the basis of allotment. Allotment is expected on 26 October and listing on 28 October, according to Upstox and HDFC Sky.

For more on the issue and the man who led it, read Akash Ambani fronts Jio IPO as Reliance succession moves on.

What the money is for

Most of the proceeds will repay borrowings of Reliance Jio Infocomm, the group's mobile network, with the rest for general corporate purposes, according to the offer details reported by Outlook Money.

Jio Platforms reported revenue from operations of ₹1,46,885 crore and a profit after tax of ₹30,049 crore for the year ended 31 March 2026, up from ₹1,28,218 crore and ₹26,109 crore a year earlier. In the June 2026 quarter, revenue was ₹39,173 crore and profit after tax ₹7,764 crore.

Demand before the issue opens

Ahead of the opening, reports citing sources said the issue had drawn aggregate interest of nearly ₹2.5 lakh crore from large institutional investors, including domestic insurers and mutual funds and global funds. These are unofficial indications, not subscription figures. Actual subscription data is published by the stock exchanges during the bidding window.

Some websites publish unofficial "grey market" prices for upcoming IPOs. They aren't regulated, they can change sharply, and they aren't a reliable guide to listing prices. National Diaries doesn't report them.

Why it matters: Jio, launched in 2016, changed how India uses the internet by making mobile data cheap, and it now has hundreds of millions of customers. Its listing is a milestone for India's stock markets and for Reliance's plan to separate its telecom and digital businesses. For readers abroad, the size of the issue shows how much domestic and global money is now flowing into Indian equities.

How to apply, and what to check

Investors in India can apply through their broker or bank using UPI or ASBA (Application Supported by Blocked Amount), which blocks the money in your account until shares are allotted. Non-resident Indians can generally apply through their NRE or NRO accounts, subject to the rules for their category; check with your broker.

Before applying, read the Red Herring Prospectus filed with the market regulator SEBI, especially the risk factors and the use of proceeds. This article doesn't recommend applying or not applying.

This article is for information only and is not investment advice.